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14. (4 points) The firm's fiscal year (FY) end is December 31st, the expected long-term perpetual annual growth rate in the firm's free cash flows

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14. (4 points) The firm's fiscal year (FY) end is December 31st, the expected long-term perpetual annual growth rate in the firm's free cash flows after FY 2023 is 2%/year, the firm's cost of equity (Ke) is 7.5%, and the firm's WACC is 5%. Assuming a valuation date of June 30th 2020. provide an equation, with the appropriate numeric inputs, to calculate the value of the firm's operating assets: FY 2020 FY 2021 FY 2022 FY 2023 Annual Free Cash Flows $120 m $180 m $220 m $230 m

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