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Afterpay Ltds current years free cash flow is $10 million. It is projected to grow at 15% per year for the next five years. It

Afterpay Ltds current years free cash flow is $10 million. It is projected to grow at 15% per year for the next five years. It is expected to grow at a more modest 4% beyond the fifth year. The firm estimates that its cost of capital is 10% during the next five years and then will drop to 8% beyond the fifth year as the business matures. Estimate the value of Afterpay Ltd.

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