(b) You are trying to value the London Patriots Ltd., a semi-professional football team, for sale. The company is expected to generate after-tax operating income of K10 million next year on invested capital of K50 million and is expected to grow at 2% a year in perpetuity. Estimate the value of the team to a buyer who is totally undiversified, fully equity funded and applies a 20% discount rate to value projects. (You can assume a risk free rate of 2%, an equity risk premium of 6%, and that the sports business has an unlevered beta of 1.20 )