Assume you are now at the beginning of the year 2022 and are trying to evaluate company GrowthClassic Incorporated using the discounted cash flow valuation model. The marginal corporate tax rate of GrowthClassic is 25%.

The free cash cash flow to the firm of GrowthClassic is expected to grow at 8% every year for the next 3 years (2022-2024) and then it is expected to grow at 4% beyond the third year. Using the WACC after the change of capital structure and assuming it will not change in the future, please use the Perpetuity Growth Method and estimate the firms enterprise value at the beginning of the year 2022 (now).