Given the following information about a company, perform a forecast.

Sales in Recent Year (year 0): $25.00 Million

Sales growth:

Sales growth each year for next 4 years: 8%

Sales growth after year 4: 3%

Operation Margins: 24%

Tax Rate: 27%

Market Value of Debt: $15.00 Million

Pre-tax cost of debt: 5.25%

Number of shares: 3.00 Million

Market value of equity: 40.00 million

Cost of equity: 12.00%

Percentage of NOPAT that must be reinvested:

Reinvestment rate years 1-4: 30%

Reinvestment rate after year 4: 20%

The net operating profit in year 1 is:

The FCF to the firm in year 4 is:

The enterprise value of the firm is:

Answer: