Can you do in excel please

Problem 2 (50 points):

Lunar Motivation Corporation

Income Statement ($ in millions)

2019

Sales 8000

Cost of Goods -5600

SGA -1500

Interest -100

EBT 800

Taxes (40%) -320

Net income 480

Dividends -100

Retained earnings 380

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Lunar Motivation Corporation

Balance Sheet

2019 2019

Cash 10 Accounts payable 300

Accounts receivables 400 Notes payable 300

Inventory 560 Current liabilities 600

Short term Investments 30 Long-term debt 1000

Current assets 1000 Common stock 400

Net plant & equip. 3000 Retained earnings 2000

Total assets 4000 Total liab. & equity 4000

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You have forecasted Lunar Motivation Corporation (LMC) free cash flow in 2020 to be $50.51 million, $450 million in 2021, 500 million in 2022, and 550 million in 2023. After 2023, free cash flow will grow at a constant rate of 7 percent per year forever. The company has a 14% WACC and 100 million shares of common stock. Please provide an estimate of the items below, including the stock price, using the free cash flow model. Show your calculations to the right.

Value of Operations ______

Total Corporate Value ______

Value of Equity ______

Estimated Stock Price ______

Can you do in excel please