Lance Inc'S Free Cash Flow Was Just $1

Multiple Choice

Lance Inc.'s free cash flow was just $1.00 million.If the expected long-run growth rate for this company is 5.4%, if the weighted average cost of capital is 11.4%, Lance has $4 million in short-term investments and $3 million in debt, and 1 million shares outstanding, what is the intrinsic stock price?

A) $17.28
B) $17.70
C) $18.13
D) $18.57
E) $19.01