Hey guys stuck on problem #15 from Elan’s Equity FCF Valuation practice questions. Any help would be appreciated:
Shamrock Ltd’s most recent FCFE per share amounted to $0.6. An analyst has the following expectations regarding the company’s growth in FCFE:

FCFE will grow at a rate of 40% for the next three years, during which the investors’ required rate of return will be 20%.

During the following two years, FCFE growth will decline by 15% per year towards its stable longterm growth rate. During this time, investors’ required rate of return will be 16%

From year 6 onwards, FCFE will grow at a stable longterm growth rate of 10%, during which investors’ required rate of return will be 12%.
The intrinsic value of the company’s stock today is closest to:
A. $59
B. $58
C $56
Elan shows the answer to this as B $58. I’m stuck here. I know I’m supposed to start by calculating FCFE up through to the stable growth period, then get the terminal value. But where do I go from there? Elan’s explanation is only a table with discount factors and present values that come to a sum of $58.02. Any helpful would be greatly appreciated.