$1.$ Write down the appropriate discount rate for each discounted cash flow model below.

DDM$,$ FCFF$,$ FCFE

$2.$ The free cash flow to the firm is $$300$ million in perpetuity $($growth rate of FCFF is $0),$ the cost of equity equals $14\%,$ and the WACC is $10\%.$ If the market value of the debt is $$1$ billion, what is the value of the firm's total equity using the free cash flow valuation approach? Show all your work $($do not just give a final number$).$

Hint: recall what we do for the Gordon Growth Model with g$=0.$