13 10 The financial statements of Lioi SteelFabricators are shown below both the actual results for 2010 andthe projections for 2011. Free cash flow is expected to grow at a6% rate after 2011. The weighted average cost of capital is11%.a. If operating capital as of 12/31/2010 is $502.2 million what isthe free cash flow for 12/31/2011?b. What is the horizon value as of 12/31/2011?c. What is the value of operations as of 12/31/2010?d. What is the total value of the company as of 12/31/2010?e. What is the intrinsic price per share for12/31/2010?