If the company has no debt or preferred stock and 10


Happy Dog Corp.'s free cash flow (FCF) last year was $50 million. The company and its FCF are expected to grow at a constant rate of 4% indefinitely. If the weighted average cost of capital is 10%, what is Happy Dog's total corporate value? If the company has no debt or preferred stock and 10 million shares outstanding, what is its price per share?

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Business Management: If the company has no debt or preferred stock and 10
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