A company currently has free cash flow of $13 million. Analysts estimate that this FCF is anticipated to grow by 12% per year for the next 5 years then level off at a terminal growth rate of 4%. Assuming the companys beta is 1.5, risk free rate is 3%, market risk premium (Rm Rf) is 14, and the Company has 8 million shares outstanding, what value would you assign the shares?

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