Based on the following JBH's projected free cash flows to equity holders between 2019 and 2021, what is the total equity value of JBH using the discounted cash flow model if analysts forecast the company's free cash flows to equity holders will grow at 5% p.a. constantly beyond the forecast horizon, assuming that JBH's cost of equity is 15%? (Rounding up numbers to 2 decimal places, and showing the workings of calculations)

2019F 2020F 2021F

Free cash flow to equity holders 161 561 159 916 122 467