21. You are valuing Yellow Spike Mining, Inc., an exploration-stage mining company that has holdings in Arizona, Colorado and Utah. The company has been in existence for three years and has yet to show a profit. The company has recently received all the necessary mining permits and forecasts net income for 2020 and 2021 to be $(5,000,000) and $23,000,000, respectively. Based on an analysis of comparable companies, you've decided that a forward PE of 10 would be appropriate in valuing this company. The company's cost of capital is 12 percent and equity investors have a required rate of return of 18 percent. Based on a forward PE of 10, what is the value of the equity in the company? ($194,915,300)