1. A company is forecasted to generate free cash flows of $30 million next year (t=1) and $40 million the year after (t=2). After that, cash flows are projected to grow at a 2% annual rate in perpetuity. What's your estimate of the company's free cash flows for year 3? Answer in millions, rounded to one decimal place (e.g. $23.67 million = 23.7) (Hint: You know year 2 cash flow and the annual growth rate after that).

2. A company is forecasted to generate free cash flows of $30 million next year and $40 million the year after (t=2). After that, cash flows are projected to grow at a 2% annual rate in perpetuity. The company's cost of capital is 8%. What's its enterprise value today? Answer in millions, rounded to a whole number (e.g., $246.3 million = 246).