$19.$ A large company is considering selling off one of its divisions to another firm. Free cash flows expected from this division for upcoming years are forecasted as shown below, and the company would have expected the division to grow $2\%$ per year after that indefinitely. The company has a $10\%$ cost of capital $($i$.$e$.,$ the required rate of return is $10\%).$ What is the minimum amount the company should accept as a bid for selling this division to the other firm?

Year $0$ Year $1$ Year $2$ Year $3$ Year $4$ Year $5$

Initial Investment $$500,000$ $$510,000$ $$520,000$ $$530,000$ $$540,000$

Enter your answer as a monetary amount rounded to four decimal places, but without the currency symbol. For example, if your answer is $$90\mathrm{.}1234,$ enter $90\mathrm{.}1234$

$21.$ An entire company being valued has free cash flows forecasted as shown and a terminal value of $$1,000,000.$ If the cost of capital $($i$.$e$.,$ the required rate of return$)$ is $10\%,$ what is the value of the entire company?

Year $0$ Year $1$ Year $2$ Year $3$ Year $4$ Year $5$

Initial Investment $$200,000$ $$300,000$ $$350,000$ $$375,000$ $$400,000$

Enter your answer as a monetary amount rounded to four decimal places, but without the currency symbol. For example, if your answer is $$90\mathrm{.}1234,$ enter $90\mathrm{.}1234$

$\text{'}$

$24.$ A company is replacing an existing machine to improve efficiency. They plan to sell the existing machine which will net $$1,000$ after tax, and this will be used to pay for part of the replacement machine. The change in free cash flows $($i$.$e$.,$ the incremental free cash flows$)$ expected from replacing this machine are forecasted as shown below. At the end of the final year shown, the replacement machine will be fully depreciated and the company might sell it$,$ or they might continue to use it$,$ so they have decided to not include the salvage value in the final year's cash flow. The company has a $10\%$ cost of capital $($i$.$e$.,$ the required rate of return is $10\%).$ What is the maximum amount, including the effect of using the net proceeds from disposition of the existing machine, which the company should spend for this new machine $($i$.$e$.,$ what is the highest pricetag the machine can have$)?$

Year $0$ Year $1$ Year $2$ Year $3$ Year $4$ Year $5$

Initial Investment $$500,000$ $$400,000$ $$300,000$ $$200,000$ $$100,000$

Enter your answer as a monetary amount rounded to four decimal places, but without the currency symbol. For example, if your answer is $$90\mathrm{.}1234,$ enter $90\mathrm{.}1234$

$25.$ A company is replacing an existing machine to improve efficiency. The change in free cash flows $($i$.$e$.,$ the incremental free cash flows$)$ expected from replacing this machine are forecasted as shown below. At the end of the final year shown, the company plans to sell the replacement machine, which will provide $$9,000$ after tax. The company has a $10\%$ cost of capital $($i$.$e$.,$ the required rate of return is $10\%).$ They plan to sell the existing machine which will net $$1,000$ after tax, and this will be used to pay for part of the replacement machine. What is the maximum amount, including the effect of using the net proceeds from disposition of the existing machine, which the company should spend for this new machine $($i$.$e$.,$ what is the highest pricetag the machine can have$)?$

Year $0$ Year $1$ Year $2$ Year $3$ Year $4$ Year $5$

Initial Investment $$500,000$ $$400,000$ $$300,000$ $$200,000$ $$91,000$

Enter your answer as a monetary amount rounded to four decimal places, but without the currency symbol. For example, if your answer is $$90\mathrm{.}1234,$ enter $90\mathrm{.}1234$