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FinCorp s free cash flow to the firm is reported as $ 3 0 5 million. The firm s interest expense is $ 4 2

FinCorps free cash flow to the firm is reported as $305 million. The firms interest expense is $42 million. Assume the corporate tax rate is 21% and the net debt of the firm increases by $5 million.
What is the market value of equity if the FCFE is projected to grow at 3% indefinitely and the cost of equity is 12%?
Note: Do not round intermediate calculations. Enter your answer in millions of dollars rounded to 2 decimal places.

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