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A firm had reported free cash flows as R29.2 million. The firm's interest expense is R7.2 million and net debt increased by R4.1 million. The

A firm had reported free cash flows as R29.2 million. The firm's interest expense is R7.2 million and net debt increased by R4.1 million. The equity beta is 1; the equity risk premium is 11%; the risk free rate is 5 percent. The corporate tax rate is 28%. If the FCFE expected to grow at 6.9%, what is the value of equity?

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