TheHoffmanCardCo.earned￡1.50persharelastyear.Investmentinfixedcapitalwas￡0.80pershare,anddepreciationwas￡0.30.Investmentinworkingcapitalwas￡0.20pershare.Hoffmanexpectsearningstogrowat15%peryearforthenextfiveyearsandthatinvestmentinfixedcapital,depreciation,andinvestmentinworkingcapitalwillgrowatthesamerate.Afterfiveyears,thegrowthinearningsandworkingcapitalrequirementswilldeclinetoastable5％peryear,andinvestmentinfixedcapitalanddepreciationwilloffseteachother(i.e.,theywillbeequal).Hoffman'stargetdebtratiois30%.Theshareholdersrequireareturnof17%ontheirinvestmentduringthehigh-growthstageandareturnof10%ontheirinvestmentduringthestablestage.TheFCFEinYear6andthevaluepershareofHoffman'scommonstockare<em>closest</em>to:<br/><spanstyle="text-decoration:underline">FCFEinYear6</span><spanstyle="text-decoration:underline">Sharevalue</span> A: £2.03£31.08 B: £2.88£31.08 C: £2.88£57.60