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*2. Fioretti has EAT, depreciation expense, capital expenses and debt principal payments of $4m, $.4m, $.9m, and $.5m respectively. Between the first and the second

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*2. Fioretti has EAT, depreciation expense, capital expenses and debt principal payments of $4m, $.4m, $.9m, and $.5m respectively. Between the first and the second years, it has current assets of S13m and $14m and current debts of $5m and Som respectively. Its unlevered bheta, D/E and t are 1, 60/40 and 4 respectively. Fioretti's's ROE is 13%, and it plows about 35% of its profits back into its business. Derive the value of Fioretti by using the free cash flow to equity definition

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