F Co has forecast the following free cash flows to equity for the next four years: R million Year 1 Year 2 Year 3 Year 4 FCFE 3.6 3.9 4.4 5.5 Thereafter, the free cash flows to equity are expected to grow at 2% per year. The rate of corporate tax is 20%. F Co has a cost of equity of 10% and a WACC of 8%. What is the value of F Cos equity, using a discounted free cash flow to equity approach? (Your answer should be in R million, to two decimal place.)

F Co has forecast the following free cash flows to equity for the next four years: Thereafter, the free cash flows to equity are expected to grow at 2% per year. The rate of corporate tax is 20%. F Co has a cost of equity of 10% and a WACC of 8%. What is the value of F Co's equity, using a discounted free cash flow to equity approach? (Your answer should be in R million, to one decimal place.) Fill in the answer in the space provided Moving to another question will save this response. Question 9 of 10