Consider the table given below to answer the following question. Year 6 1 2 3 4 8 5 17.46 19.20 9 22.60 24.19 10 25.88 11.00 Asset value Earnings 2.60 2.18 2.33 1.43 1.62 1.43 1.62 Net investment 1.81 7 12.43 14.05 15.87 21.13 1.83 2.06 2.27 2.40 2.54 1.83 1.59 1.75 1.92 1.48 1.58 1.69 0.48 0.52 0.48 1.06 1.02 0.48 0.13 0.13 0.13 0.13 0.13 0.125 0.12 0.115 0.09 0.13 0.13 0.13 0.10 0.10 0.10 0.07 0.07 0.07 0.07 0.13 0.13 0.13 0.10 0.06 0.06 0.03 -0.16 0.07 0.52 0.09 Free cash flow (FCF) Return on equity (ROE) Asset growth rate Earnings growth rate Assuming that competition drives down profitability (on existing assets as well as new investment) to 12.5% in year 6, 12% in year 7, 11.5% in year 8, and 9% in year 9 and all later years. What is the value of the concatenator business? Assume 10% cost of capital. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million