randtly Industries invests a large sum of money in R&D; as aresult, it retains and reinvests all of its earnings. In otherwords, Brandtly does not pay any dividends, and it has no plans topay dividends in the near future. A major pension fund isinterested in purchasing Brandtly's stock. The pension fund managerhas estimated Brandtly's free cash flows for the next 4 years asfollows: $4 million, $5 million, $8 million, and $16 million. Afterthe fourth year, free cash flow is projected to grow at a constant4%. Brandtly's WACC is 14%, the market value of its debt andpreferred stock totals $62 million; and it has 7 million shares ofcommon stock outstanding. Write out your answers completely. Forexample, 13 million should be entered as 13,000,000. What is thepresent value of the free cash flows projected during the next 4years? Round your answer to the nearest cent. Do not round yourintermediate calculations. $ What is the firm's horizon, orcontinuing, value? Round your answer to the nearest cent. $ What isthe firm's total value today? Round your answer to the nearestcent. Do not round your intermediate calculations. $ What is anestimate of Brandtly's price per share? Round your answer to thenearest cent. Do not round your intermediate calculations. $