Drac Valuators, Inc. is assessing the value of Kuro Company which projects the following net cash flows for the next five years, with its desired required rate of return. Net cash flows approximates to be its earnings also. The balance sheet has recorded PPE of 100 million. Operating assets are estimated at 80% and the rest are considered idle. Year Net Cash Flows 1 8,000,000 2 8,800,000 3 9,680,000 4 10,648,000 5 11,712,800 Required return = 8.00%

Using capitalization of earnings, compute for the equity value *