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12-23. The free cash flow for PepsiCo (NYSE: PEP) this year was $1,026,600,00. Free cash flows at the end of each of the next five

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12-23. The free cash flow for PepsiCo (NYSE: PEP) this year was $1,026,600,00. Free cash flows at the end of each of the next five years are expected to be as follows: Year 1 $1,231,920,000 Year 2 $1,453,665,600 Year 3 $1,686,252,096 Year 4 $1,922,327,389 Year 5 $2,153,006,676 After year 5, free cash flows are expected to grow indefinitely at 10 percent a year. If the weighted average cost of capital (WACC) for PepsiCo is 12 percent, what is the enterprise value of the company today

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