NO.PZ2023032701000043
问题如下：
Yee gathers the following information to estimate the equity value:
• 2013 FCFF will be $600 million.
• Beyond 2013, FCFF will grow in perpetuity at 4% annually.
• The market value and book value of McLaughlin’s long-term debt are approximately equal.
• Weighted average cost of capital (WACC)=9.0%
• Number of outstanding shares (millions)=411
• Long-term debt at the end of 2012=$2,249 million
Using Yee’s assumptions and the FCFF valuation approach, the year-end 2012 value per share of McLaughlin common stock is closest to:
选项：
A.$23.73
$12.78
$29.20
解释：
想问该题中"Beyond 2013"我从字面上的理解是从2014年开始才永续增长。所以答案中V2012的价值是不是得先用FCFF2013x(1+r)/(r-g)算出V2013，再去折回到V2012呢？
还是说Beyond 2013这个用的不太严谨呢？
谢谢
