Question: (couldnt fit full image here so i will type full question) Portage Bay Enterprises has no debt, $0.7 million in cash, and is expected to

(couldnt fit full image here so i will type full question)

Portage Bay Enterprises has no debt, $0.7 million in cash, and is expected to have free cash flow of $15 million next year. It is then expected to grow at a rate of 4% per year forever. If Portage Bay's equity cost of capital is 12% and it has 7 million shares outstanding, what should the price of Portage Bay's stock be?

The price of Portage Bay's stock is $ per share. (Round to the nearest cent.)

(couldnt fit full image here so i will type full question) Portage

the price of Portage Bay's stock be? The price of Portage Bays stock is if per share. (fllound to the nearest cent.)

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