Question: I want accurate answer with proper explanation please upvote 2. The following are selected numbers (in millions of dollars) from the financial statements of company

I want accurate answer with proper explanation please upvote

I want accurate answer with proper explanation
2. The following are selected numbers (in millions of dollars) from the financial statements of company ABC for 2021 and 2022. 2021 2022 Revenues $5,192.0 $5,400.0 (Less) Operating Expenses ($3,678.5) ($3848.0) (Less) Depreciation ($573.5) ($580.0) - EBIT $940.0 $972.0 (Less) Interest Expenses ($170.0) ($172.0) (Less) Taxes ($252.1) ($270.0) - Net Income $517.9 $530.0 Working Capital $92.0 $370.0 Capital expenditure $800.0 $750.0 Total Debt $2,000.0 $2,200.0 The firm's cost of debt is 4%. The beta of the stock is 1.05, and there are 40 million shares outstanding (trading at $60 per share). The risk-free rate of return is 2%, the risk premium on the market portfolio is 9%! The firm expects FOFF to grow at 6.5% a year from 2023 to 2026, after which the growth rate is jected to drop to 3%. Estimate the value per share at the beginning of 2023 using FCFF approach

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