Business, 22.05.2020 04:07, cyclonenetwork1188

Portage Bay Enterprises has $ 1$1 million in excess cash, no debt, and is expected to have free cash flow of $ 10$10 million next year. Its FCF is then expected to grow at a rate of 5 %5% per year forever. If Portage Bay's equity cost of capital is 13 %13% and it has 66 million shares outstanding, what should be the price of Portage Bay stock?

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Portage Bay Enterprises has $ 1$1 million in excess cash, no debt, and is expected to have free cash...