Horizon Value of Free Cash Flows

Current and projected free cash flows for Radell Global Operations are shown below.

Actual

2018

2019Projected

2020

2021Free cash flow$608.30$668.98$709.03$758.66(millions of dollars)

Growth is expected to be constant after 2020, and the weighted average cost of capital is 10.85%. What is the horizon (continuing) value at 2021 if growth from 2020 remains constant? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number.

$million