3. Corporate value model Aa Aa Ward Pharmaceuticals is expected to generate free cash flow (FCF) of $150 million this year (FCF1$150 million), and FCF is expected to grow at a rate of 20% over the following two years (FCF2 and FCF3). After the third year, however, FCF is expected to grow at a constant rate of 5% per year, forever (FCF4). If ward's weighted average cost of capital (WACC )is 11.3%, what is ward's current total firm value? O $2,999 million O $2,820 million O $3,048 million O $2,952 million O $3,258 million ward's debt has a market value of $1,800 million and ward has no preferred stock. If ward has 80 million shares of common stock outstanding, what is Ward's estimated intrinsic value per share of common stock? O $15.60 O $16.22 O $13.83 $12.74 O $14.99