Danielsen's Has 15,000 Shares of Stock Outstanding and Projected Annual

Multiple Choice

Danielsen's has 15,000 shares of stock outstanding and projected annual free cash flows of $48,200,$57,900,$71,300,and $72,500 for the next four years,respectively.After that,the cash flows are expected to increase at a constant annual rate of 1.6 percent.What is the current value per share of stock at a discount rate of 15.4 percent?

A) $31.57
B) $29.06
C) $28.99
D) $26.14
E) $34.08