Shares of common stock outstanding

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Sims Manufacturing is expected to generate $100 million in free cash flow next year, and FCF is expected to grow at a constant rate of 6% per year indefinitely. Sims has no debt or preferred stock, and its required rate of return is 10%. If Sims has 35 million shares of common stock outstanding, what is the stock's value per share? (Answer to the nearest cent. i.e. one thousand dollars would be entered 1000.00).

Reference no: EM132003313

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