24 . The table below shows the projected free cash flows of an acquisition target. The discount rate to value the target is 9% discount rate. The acquiring company expects the terminal period to begin at the end of 2024 with a perpetual growth rate of 3% from that point on.

YEAR	2021 (Year 1)	2022 (Year 2)	2023 (Year 3)	2024 (Year 4)
FREE CASH FLOW ($ thousands)	$56	$116	$171	$99

The Present Value of $1 Table (Table 3) tells us:

Period (n)	Present Value Factor at 9% Discount Rate
1	.917
2	.842
3	.772
4	.708

Terminal Value using perpetual growth equation:

FCFT +1 Kw g

Question: Based on the information above, what is the Maximum Acquisition Price (MAP) the acquirer would pay for this target as of 12/31/20? Hint: You need to use the present value table to discount 2021 through 2024 cash flows to the end of 2020 (Year 0) and add it to the terminal value at the end of 2024 discounted to the end of 2020.