FCF are as follows

2016- 21.2 mil

2017- 151 mil

2018- 504.9 mil

2019- 97.3

The business risk of Airco (A) is 7.396, and you expect the FCF in 2021 to be the average of the FCFs in the past 4 years (2019, 2018, 2017, 2016). Moreover, you expect future FCFs to grow at the constant rate of 6.22% Airbnb's corporate tax rate is 11% Q: What is the valuation of Airbnb if the company plans to issue debt, with a cost of capital (rD) of 4.65%, to keep a constant D/E ratio of 0.72? Report your answer in million (M) and round it to 2 decimal places