Your boss at Norris Valuations Inc. has asked you to determine a price target for the shares of Troy Inc. A coworker was working on this valuation but got reassigned to a different project. He has provided you with different financial information as well as predictions of future performance for the company.

Cash

Accounts receivable

Long$-$term debt $($all $30$ year annual Coupon Bonds issued in $2017)$

Accounts payable

Common stock

Notes payable

Net Fixed Assets

Accruals

Inventories

Retained earnings

Depreciation

Total Asset Turnover

Coupon Rate

Market Rate for similar Bonds

Tax rate

EBITDA $(\%$ of sales$)$

Dividend payout ratio

Shares Outstanding

Market Value of Preferred Stock

$\backslash$table$[[,2018,2017,],[,,,],[$$$,86,000,$$$,75,000],[$$$,71,000,$$$,66,000],[$$$,65,000,$$$,65,000],[$$$,25,000,$$$,20,000],[$$$,69,476,$$$,65,000],[$$$,14,000,$$$,10,000],[$$$,63,000,$$$,45,000],[$$$,25,000,$$$,20,000],[$$$,35,000,$$$,30,000],[$$$,56,524,$$$,36,000],[$$$,7,000,,],[,,,],[,1\mathrm{.}50,,],[,5\mathrm{.}00\%,,],[,6\mathrm{.}00\%,,],[,21\mathrm{.}00\%,,],[,14\mathrm{.}00\%,,],[,40\mathrm{.}00\%,,],[,10,000\mathrm{.}00,,],[$$$,100,000\mathrm{.}00,,]]$

He estimated that the company's FCF would grow at $30\%$ for the next $3$ years, $15\%$ for the following $3$ years, and then at $5\%$ thereafter. He estimated their WACC at $8\%.$ He also came up with estimates for possible future dividend growth rates of $15\%$ for the next $2$ years, $10\%$ the following $2$ years, and then $4\%$ thereafter. He estimated the stock's beta to be $1\mathrm{.}2.$ The current market return is $10\%$ and the risk free rate is $3\%.$

The stock is currently selling for $$24.$ You are tasked with estimating the price of the stock using both the Corporate Valuation Model and the Dividend Growth Model and making a recommendation on whether the company is under, over, or fairly priced. Make a balance sheet and income statement.