Smith and T Co. is expected to generate a free cash flow (FCF) of $1,575.00 million this year (FCF = $1,575.00 million), and the FCF is expected to grow at a rate of 21.40% over the following two years (FCF and FCF). After the third year, however, the FCF is expected to grow at a constant rate of 2.82% per year, which will last forever (FCF). Assume the firm has no nonoperating assets. If Smith and T Co.s weighted average cost of capital (WACC) is 8.46%, what is the current total firm value of Smith and T Co.? (Note: Round all intermediate calculations to two decimal places.)

$47,214.07 million

$45,676.82 million

$38,064.02 million

$4,896.87 million

Smith and T Co.s debt has a market value of $28,548 million, and Smith and T Co. has no preferred stock. If Smith and T Co. has 600 million shares of common stock outstanding, what is Smith and T Co.s estimated intrinsic value per share of common stock? (Note: Round all intermediate calculations to two decimal places.)

$15.86

$17.45

$14.86

$47.58