An analyst forecasts a firm's nominal Equity Free Cash Flow (EFCF) to be: $10 million next year (t=1); $20 million the year after (t=2); $30 million in 3 years (t=3); and As at year 3, the terminal value can be calculated based on similar firms' expected price-to-sales multiple of 2. The earnings over year 3 are twice the EFCF at that time since the payout ratio is 50% and all EFCF is comprised of dividends. The net profit margin is forecast to be 10% in year 3. Note that the year 3 terminal valuation price-to-sales multiple excludes the cash flows paid at year 3 as is normal. The nominal required return on equity is 6% pa. All rates are effective annual rates. What is the firms current market capitalisation of equity?