Home Insert Draw Page Layout Formulas Data Review View Telin Times New Roman v 14 ' General v v Paste BIU v . $ % A1 x fx reference is all you need to come a formulacross a row or down a con, on aholutecell reference or med cell refermce may be preferred a specific Excel function is to be used the directions will specify the war of that function. Do not npe in numerical data into a cell or function. Instead, make a reference to the call in which the data is found Maler your computation only in the Wue cells highlighted below. In all cure, unless otherwise directed, we the earliest appearance of the data in your formular, rally the Given Dalenection Heavy Metal Corporation is expected to generate the free cash flows in the table below over the next five years. After 5 years, the free cash flows are expected to grow at the industry average of + 4% per you. Using the discounted free cash flow model and a weighted average cost of capital of 14% 1. Estimate the enterprise value of Heavy Metal b. I Heavy Metal ha no excess cah, debt of $300 million, and 40 million shares outstanding. estimate its share price 1 2 3 4 Year Free Cash Flow (million) 5 $ 535 AS 785 75$ 82 Growth rate Number of periods Average cost of capital 494 S 14% . Estimate the enterprise value of Howy Metal Cash flow in your 6 million) Value in year 5 (million) Enterprise value (million) 1. Ir Heavy Metal has no excess cash, debt of $300 million, and 40 million shes outstanding, estimate its share price 21 Excess cash (million) Debt million) Number of shares million) 5 5 15 300 40 Price per share Requirements 10-6 + 19 Mace