2. what is the total value of the company (in$ millions) 3. what is the value per share of common stocks($)

It is December 2022. You work as a financial analyst for Merck \& Co. and are tasked with the due diligence on the proposed acquisition of a biotech startup. You estimated the following cash flows for the startup: After 2027, cash flows are expected to grow by 3% per year. Based on the riskiness of your industry, you think that your weighted average cost of capital is 13%. The biotech firm has 5 million shares and bonds worth $120 million outstanding. Part 1 Attempt 1/3 for 10 pts. What is the horizon value, i.e., the present value of all free cash flows from 2028 to infinity expressed in 2027-dollars (in \$ million)