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What is the formula for: and is there a short way to do this: Adjusted Cash Flow from Assets [LO3] Ward Corp. is expected to have an EBIT of $1.9 million next year. Depreciation, the increase in net working capital, and cap- ital spending are expected to be $165,000, $85,000, and $115,000, respectively. All are expected to grow at 18 percent per year for four years. The company currently has $13 million in debt and 800,000 shares outstanding. After Year 5, the adjusted cash flow from assets is expected to grow at 3 percent indefinitely. The company’s WACC is 8.5 percent and the tax rate is 35 percent. What is the price per share of the company’s stock?

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