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Sims Manufacturing is expected to generate $100 million in free cash flow next year, and...

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Finance

Sims Manufacturing is expected to generate $100 million in free cash flow next year, and FCF is expected to grow at a constant rate of 6% per year indefinitely. Sims has no debt or preferred stock, and its required rate of return is 10%. If Sims has 35 million shares of common stock outstanding, what is the stock's value per share? (Answer to the nearest cent. i.e. one thousand dollars would be entered 1000.00).

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