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FinCorp?s free cash flow to the firm is reported as $210 million. The firm's interest expense is $24 million. Assume the tax rate is 30%
FinCorp?s free cash flow to the firm is reported as $210 million. The firm's interest expense is $24 million. Assume the tax rate is 30% 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 11%? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
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