Consider the table given below to answer the following question. & 1 13.00 1. 56 1.56 2 3 14. 5616.31 1. 75 1. 96 1. 75 1. 96 10 28. 17 2. 25 Asset value Earnings Net investment Free cash flow (FCF) Return on equity (ROE) Asset growth rate Earnings growth rate 1.69 Year 5 19.91 21. 70 2. 392.50 1.79 1.95 0.60 0.54 0.12 0.115 0.09 0.09 0.09 0.04 4 18.26 2. 19 1. 64 0.55 0.12 0.09 0.12 7 23.65 2.60 1. 42 1. 18 0.11 0.06 0.04 8 25.07 2. 63 1. 50 1.13 0.105 0.06 0.01 9 26.58 2. 13 1. 59 0.53 0.08 0.06 -0.19 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.56 0.08 0.06 0.06 Assuming that competition drives down profitability (on existing assets as well as new investment) to 11.5% in year 6, 11% in year 7, 10.5% in vear 8. and 8% in year 9 and all later years. What is the value of the concatenator business? Assume 11% cost of capital. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million Consider the table given below to answer the following question. & 1 13.00 1. 56 1.56 2 3 14. 5616.31 1. 75 1. 96 1. 75 1. 96 10 28. 17 2. 25 Asset value Earnings Net investment Free cash flow (FCF) Return on equity (ROE) Asset growth rate Earnings growth rate 1.69 Year 5 19.91 21. 70 2. 392.50 1.79 1.95 0.60 0.54 0.12 0.115 0.09 0.09 0.09 0.04 4 18.26 2. 19 1. 64 0.55 0.12 0.09 0.12 7 23.65 2.60 1. 42 1. 18 0.11 0.06 0.04 8 25.07 2. 63 1. 50 1.13 0.105 0.06 0.01 9 26.58 2. 13 1. 59 0.53 0.08 0.06 -0.19 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.56 0.08 0.06 0.06 Assuming that competition drives down profitability (on existing assets as well as new investment) to 11.5% in year 6, 11% in year 7, 10.5% in vear 8. and 8% in year 9 and all later years. What is the value of the concatenator business? Assume 11% cost of capital. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million