Consider a project which is expected to generate the following stream of unlevered free cash flow over the next three periods ... 1 End of period FCF 2 1000 3 800 1000 and assume the project is financed in accordance with the following target debt schedule ... End of period Dt 0 1500 2 500 3 0 1000 The unlevered cost of equity is 10% per period, the cost of debt is 5% per period and the corporate tax rate is 30%. All dollar amounts are in $ millions and assume the interest tax shields have the same risk as the firm's operations. What is the value of equity in the project today? Consider a project which is expected to generate the following stream of unlevered free cash flow over the next three periods ... 1 End of period FCF 2 1000 3 800 1000 and assume the project is financed in accordance with the following target debt schedule ... End of period Dt 0 1500 2 500 3 0 1000 The unlevered cost of equity is 10% per period, the cost of debt is 5% per period and the corporate tax rate is 30%. All dollar amounts are in $ millions and assume the interest tax shields have the same risk as the firm's operations. What is the value of equity in the project today