Assume you have a company that has the following financials for fiscal year $2020$:

$$965$ million in cash

$$617$ million in book value of debt

$$459$ million in market value of debt

The company is expected to generate a free cash flow of $$200$ million in $2021.$ The growth rates of the free cash flows will be $4\%$ in $2022($e$.$g$.,$ Year $2022$ FCF $=(1+4\%)*$Year $2021$ FCF$),2\%$ in $2023($e$.$g$.,$ Year $2023FCF=(1+2\%{)}^{**}$ Year $2022$ FCF