Compressed APV Model with Constant Growth An unlevered firm has a value of $700 milion. An otherwise identical but levered firm has 350 milion in debt at a 3% interest rate, which is its pre. tax cost of debt. Its unlevered cost of equity is 11%. After Year 1 , free cash flows and tax savings are cxpected to grow ot a canstant rate of 3%. Assuming the corporate tax rate is 40%, use the compressed adjusted present value model to determine the value of the levered firm. (Hint: The interest expense at Year 1 is based on the current level of debt.) Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55. Do not round intermediate calculations. Round your answer to two decimal places. \$ milion