A firm is considering acquiring a competitor. The firm plans on offering $180 million for the competitor. The firm will need to issue new debt and equity to finance the acquisition. You estimate the issuance costs to be $15 million. The acquisition will generate an incremental free cash flow of $30 million in the first year and this cash flow is expected to grow at an annual rate of 5% forever. If the firm's WACC is 12%, what is the value of this project?