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A firm is considering investing in a new project with an upfront cost of $13 million. The project will generate an incremental free cash flow
A firm is considering investing in a new project with an upfront cost of $13 million. The project will generate an incremental free cash flow of $10 million in the first year and this cash flow is expected to grow at an annual rate of 4% forever. The firm's WACC is 15%. The project has similar risk to the firm. What is the value of this project (in million)? Please enter your answer with two decimal places and no \$ signs or symbols. For example, if you answer is $150.3422 million, enter your answer as 150.34
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