(15 points) Terrapins free cash flow is $5 million/year today and is expected to grow at a constant rate of 3%/year. Its beta is 1.3. Terrapin has $12 million in debt. It has 3 million shares and its debt represents 30% of capital. The interest rate on its debt is 5% and its tax rate is 25%. The risk-free rate is 3% and the return on the market is 9%. What is Terrapins value?