Brandtly Industries invests a large sum of money in R&D: as a result, it retains and reinvests all of its earnings. In other words, Brandtly does not pay any dividends, and it has no plans to pay dividends in the near future. A major pension fund is interested in purchasing Brandtly's stock. The pension fund manager has estimated Brandtly's free cash flows for the next 4 years as follows: S2 million, $5 million, S8 million, and $16 million. After the fourth year, tree cash flow is projected to grow at a constant 4%. Brandtly's WACO is I ?%, the market value of its debt and preferred stork totals 5fi6 million, and it has 13 million shares of common stock outstanding. Write out your answers completely. Tor example, 13 million should be entered as 13,000,000. a. What is the present value of the free cash flows projected during the next 4 years? Round your answer to the nearest cent. Do not round your intermediate calculations. b