IDX Technologies is a privately held developer of advanced security systems based in Chicago. As part of your business development$$ strategy, in late $2022$ you initiate discussions with$$ IDX's founder about the possibility of acquiring the business at the end of $2022.$ Estimate the value of IDX per share using a discounted FCF approach and the following$$ data:

bullet $$Debt: $ $26$ million

bullet Excess$$ cash: $ $109$ million

bullet Shares$$ outstanding: $50$ million

bullet Expected FCF at end of$2023$: $ $47$ million

bullet Expected FCF at end of $2024$: $ $51$ million

bullet Future FCF growth rate beyond$2024$: $6\%$

bullet $$Weighted$-$average cost of$$ capital: $9\mathrm{.}4\%$

Question content area bottom

Part $1$

The enterprise value at end of $2022$ is $$$

$$

enter your response here million. $($Round to the nearest$$ integer.$)$

The equity value is $$$

$$

enter your response here million. $($Round to the nearest$$ integer.$)$

The value of IDX per share is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$