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Brandtly Industries invests a large sum of money in R&D, as a renulk, it retains and reinvents all of ths earnings If other words, Brandtly

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Brandtly Industries invests a large sum of money in R\&D, as a renulk, it retains and reinvents all of ths earnings If 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 estirnated Brandtly's free canh flows for the next 4 years as follown $2 million, 35 million, 510 miliien, and 515 milibi. After the fourth year, free cash flow is projected to grow at a constant 7%. Brandily's WACC is 11%, the market value of its debt and preferred ntock totahs 550 million, the firm fias $13 million in non operatiog assetts, and it has' 7 million shares of common stock outstanding. What is the firm's horizon, or continuing, value? Do not round intermediate calculations. Round your answer to the nearest dollar. Write out your anowem completely. For example. 13 million should be entered as 13,000,000. Do not put a $ sign in your

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