Consider the table given below to answer the following question. Year Asset value Earnings Net investment Free cash flow Return on equity Asset growth rate Earnings growth rate 1 12.00 2 3 4 5 6 7 8 9 10 13.44 15.05 16.86 18.38 20.03 21.83 23.14 24.53 26.00 1.44 1.61 1.81 2.02 2.21 2.30 2.40 2.43 1.96 2.08 1.44 1.61 1.81 1.52 1.65 1.80 1.31 1.39 1.47 1.56 0.00 0.00 0.00 0.51 0.55 0.50 1.09 1.04 0.49 0.52 0.12 0.12 0.12 0.12 0.12 0.115 0.11 0.105 0.08 0.08 0.12 0.12 0.12 0.09 0.09 0.09 0.06 0.06 0.06 0.06 0.12 0.12 0.12 0.09 0.04 0.04 0.01 -0.19 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 year 8, and 8% in year 9 and all later years. What is the value of the concatenator business? Assume 10% cost of capital. Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. Present value _ million