Acompany’s free cash flow for 2017 is -$15 million. the company forecasts its 2018 free cash flow to be -$10 million and 2019 free cash flow to be $20 million. after 2019, the company expects its free cash flow to grow at a constant rate of 4 percent per year indefinitely. if the company’s weighted average cost of capital is 14 percent, what is its value of operations as of the end of 2017, to the nearest million?
a. $151.67
b. $166.67
c. $133.04
d. $160.51
e. $169.28

Hank itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. the following are required for production of a 70-gallon batch. 2,700 ounces of grape concentrate at $0.04 per ounce 77 pounds of granulated sugar at $0.43 per pound 133 lemons at $0.79 each 350 yeast tablets at $0.24 each 350 nutrient tablets at $0.14 each 2,500 ounces of water at $0.001 per ounce hank estimates that 4% of the grape concentrate is wasted, 9% of the sugar is lost, and 32% of the lemons cannot be used. compute the standard cost of the ingredients for one gallon of wine. (round intermediate calculations and final answer to 2 decimal places, e.g.