Estimate the value of the firm's equity using the Flows to Equity method.

($ millions)	2020	2021	2022	2023	2024	2025
FCF		200	240	280	320	360
Debt	2,344.95	2,438.66	2,523.32	2,598.24	2,662.72	2,715.98

After 2025, it is assumed that FCF will grow at 2% annually. The Beta for the firm is 1.5 and its marginal tax rate is 39%. The current 10-year treasury rate is 2% and the expected market risk premium is 5%. The firm's cost of debt is 7%. Assuming that the firm will maintain a constant debt to value ratio of 40% forever with no excess cash.