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Apple Corporation is expected to generate constant free cash flows of $10 million per year, starting from year 1. Apple has permanent debt value of

Apple Corporation is expected to generate constant free cash flows of $10 million per year, starting from year 1. Apple has permanent debt value of $50 million (i.e. the debt is perpetually rolled over), a tax rate of 30%, and an unlevered cost of capital of 8%. Apples debt is fairly priced. There is no cash. What is the intrinsic equity value of Apple Corporation? (Your answer should be in millions and in integer numbers)

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