If portage bays equity cost of capital is 12 and it has 4, Financial Management

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If portage bays equity cost of capital is 12 and it has 4

Portage Bay Enterprises has $ 3 million in excess cash, no debt, and is expected to have free cash flow of $ 12 million next year. Its FCF is then expected to grow at a rate of 5 % per year forever. If Portage Bay's equity cost of capital is 12 % and it has 4 million shares outstanding, what should be the price of Portage Bay stock?

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Financial Management: If portage bays equity cost of capital is 12 and it has 4

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