banco industries expect sales to grow at a rapid rate over the next three years, but settle to an industry growth rate of 5% in year 4. the spreadsheet above shows a simplified pro forma for banco industries. if banco industries has a weighted average cost of capital of 11%, $50 million in cash, $80 million in debt, and 18 million shares outstanding, which of the following is the best estimate of banco's stock price at the start of year 1?
