Icarus Airlines is proposing to go public, and you have been given the task of estimating the value of its equity. Management plans to maintain debt at 20% of the companys present value, and you believe that at this capital structure the companys debt holders will demand a return of 8% and stockholders will require 11%. The company is forecasting that next years operating cash flow (depreciation plus profit after tax at 21%) will be $58 million and that investment in plant and net working capital will be $20 million. Thereafter, operating cash flows and investment expenditures are forecast to grow in perpetuity by 4% a year. a. What is the total value of Icarus? (For all the requirements, do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place.)