Question: Problem 9-5 Corporate valuation Smith Technologies is expected to generate $50 million in free cash flow next year, and FCF is expected to grow at

Problem 9-5 Corporate valuation Smith Technologies is expected to generate $50 million in free cash flow next year, and FCF is expected to grow at a constant rate of 3% per year indefinitely. Smith has no debt or preferred stock, and its WACC is 11%. If Smith has 50 million shares of stock outstanding, what is the stock's value per share? Round your answer to two decimal places. Each share of common stock is worth $_______, according to the corporate valuation model.

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