You must estimate the intrinsic value of noe technologies’ stock. the end-of-year free cash flow (fcf1) is expected to be $24.50 million, and it is expected to grow at a constant rate of 7.0% a year thereafter. the company’s wacc is 10.0%, it has $125.0 million of long-term debt plus preferred stock outstanding, and there are 15.0 million shares of common stock outstanding. what is the firm's estimated intrinsic value per share of common stock?

Ronald sees that his employer's stock has grown from $20 a share to $60 a share this year, while most stocks have seen only 5% growth. his employer offers to let him convert a large portion of his salary into stock options. what is not a valid reason to turn down the stock offer? a)stocks with high returns have high volatility, and ronald's company may not grow further. b)ronald may be taxed more for capital gains than he would be for employment income. c)stock options are illiquid, and ronald may not be able to use them to pay for unexpected bills. d)ronald would be committing stock fraud if he exercises the options.