A company is forecasted to generate free cash flows of $40 million next year (t-1) and $70 million the year after (t-2). After that, cash flows are projected to grow at a 2.5% annual rate in perpetuity. The company's cost of capital is 10%. What's its enterprise value today? Answer in millions, rounded to one decimal place

A company is projected to generate free cash flows of $12 million per year for the next two years, followed by a stable growth of 2.5% per year in perpetuity. The company's cost of capital is 9%. It has $8 million worth of debt and $4 million of cash. There are 16 million shares outstanding. What's the estimated share value based on these projections? Round to one decimal place. Type your numeric answer and submit