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Here are the projections for Beech Corporation for the coming year (year 1): EBIT = $20 mm; depreciation expense = $4 mm; capex = $2

Here are the projections for Beech Corporation for the coming year (year 1): EBIT = $20 mm; depreciation expense = $4 mm; capex = $2 mm; increase in net working capital = $1 mm. Tax rate is 20%. FCFs are expected to growth at a steady rate of 3% and cost of capital is 12%. What should be its enterprise value today?

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