The value of Bankers using stable-growth FCFF model is $49.95 million, calculated as:
FCFF = $2.39m = [$6.0m(1 − 0.40)] + $0.63m − $1.25m − $0.59m.
WACC = 12.12% = (0.60 × 0.16) + [0.40 × 0.105 × (1 × 0.40)].
Estimated value = $49.95 million = ($2.39m × 1.07) / (0.1212 − 0.07)
