1. IDX Technologies is a privately held developer of advanced security systems based in Chicago. As part of your business development strategy, in late 2020 you initiate discussions with IDX's founder about the possibility of acquiring the business at the end of 2020. Estimate the value of IDX per share using a discounted Free Cash Flow (FCF) approach and the following data: (25 points) 4 Debt: $70 million Excess Cash: $250 million Shares outstanding: 52 million Expected FCF in 2021: $74 million Expected FCF in 2022: $60 million Future FCF growth rate beyond 2022: 5% Weighted-average cost of capital: 9.6%