1.ABC corporation's free cash flow to equity (FCFE) this year (t=0) is $11.7 million, and it is expected to stay the same forever. Its cost of equity and weighted cost of capital are 11.3% and 9.3% respectively. It has 21.0 million debt.

What is the equity value of ABC in million?

2.Suppose ABC Corporation's free cash flow during the just-ended year (t=0) was $113.3 million, and FCF is expected to grow at a constant rate of 2% in the future. If the weighted average cost of capital is 12% and the firm has 120 million debt, what is the firm's equity value, in millions?