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-earnings multiple of 10.

The earnings over year 3 are twice the year 3 EFCF since the payout ratio is 50% and all EFCF is comprised of dividends.

The nominal required return on equity is 6% pa

What is the firms current market capitalisation of equity?