QUESTION 17 A company is forecasted to generate free cash flows of $64 million for the next three years. After that, cash flows are projected to grow at a 2.8% annual rate in perpetuity. The company's...

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Extracted text: QUESTION 17 A company is forecasted to generate free cash flows of $64 million for the next three years. After that, cash flows are projected to grow at a 2.8% annual rate in perpetuity. The company's cost of capital is 11.9%. The company has $61 million in debt, $6 million of cash, and 16 million shares outstanding. What's the value of each share? а. 63.3 O b. 48.3 O c. 42.0 O d. 29.3 О е. 38.4