If you expect the target firm to grow at your calculated annual growth rate for the next four years $(2023-2026)$ and beyond that grow at an annual rate of $3\mathrm{.}0\%,$ what is the value of the entire target firm assuming a weighted average cost of capital $($WACC$)$ of $11\mathrm{.}50\%?$INSTRUCTIONS

As the newly appointed CFO of an established firm, your CEO brings you a proposal to acquire a rising competitor. The acquisition would make your firm the largest player in the market. To make a competitive offer, the CEO has asked you to come up with a value for the target firm. As the firm does not pay dividends, you elect to use the free cash flow $($FCF$)$ valuation model. Currently, the target firm has a single outstanding debt issue quoted at $$91\mathrm{.}156$ per bond with $3,000$ bonds outstanding. The target firm also has $17,000$ shares of preferred stock outstanding with a market value of $$\frac{11}{?}$ share. You obtain the following information from the target firm's most recent three years of financial statements:

$\backslash$table$[[,2022,2021,2020],[$EBIT$,$$$6,000,321,$$$5,986,423,$$$5,765,412$