6. Assume TikTok has recently filed to go public in the United States. They've filed their S-1, a document that includes all of their historical financial information, with the Securities & Exchange Commission for prospective investors to analyze. Assume all cash flows occur at the end of the year. Assume that the S-1 shows TikTok's cash flows to be the following: 2017 - ($430,000,000) 2018 - ($890,000,000) 2019 - ($1,600,000,000) 2020 - ($1,800,000,000) You've projected that TikTok's cash flows through the year 2024 to be the following: 2021 - ($1,400,000,000) 2022 - ($1,000,000,000) 2023 - ($500,000,000) 2024 - $0 2025 - $750,000,000 You've also projected that the value in 2025 of TikTok's future cash flows beyond that date to be $10 billion. You've also estimated TikTok's cost of capital (aka discount rate) to be 12%. Assume all cash flows occur at the end of the year. Assuming TikTok goes public at the end of 2020, what should the value of the company be