Suppose the free cash flow to the firm is expected to be $1 mil for...

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Accounting

Suppose the free cash flow to the firm is expected to be $1 mil for year 1 and $2 mil for year 2. Then it is expected to grow at a rate of 5% per year. The firms has $5 mil of debt and its WACC is 13%. If the firm If 500,000 shares of stock are outstanding, what is the predicted price of the stock? Round your answer to two decimal places.

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