3. Corporate value model Aa Aa Ward Pharmaceuticals is expected to generate free cash flow (FCF) of $150 million this year (FCF! $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 11.4%, what is ward's current total firm value? O $2,778 million $3,150 million O $3,048 million O $3,098 million O $2,999 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 $16.22 O $15.60 $12.74 O $14.99 O $14.40