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I'm struggling with the Modigliani and Miller Models for company valuation with tax. What does the g stand for? I'm trying to find the value

I'm struggling with the Modigliani and Miller Models for company valuation with tax.

  1. What does the g stand for?
  2. I'm trying to find the value of Ford and GM using the MM Model with a corporate tax rate of 21%.

Any help would be greatly appreciated!

image text in transcribedimage text in transcribed \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Ford Capital Structure } & \multicolumn{4}{|c|}{ GM Capital Structure } & \multicolumn{2}{|c|}{ Free Cash Flow } & \multicolumn{2}{|c|}{ Free Cash Flow } \\ \hline Assets & Debt & 19,770,000,000 & 31% & Assets & Debt & 11,873,000,000 & 20% & Sep 30, 2023 & 6,485,000,000 & Sep 30, 2023 & 2,334,000,000 \\ \hline 64,046,000,000 & Equity & 44,276,000,000 & 69% & 58,110,500,000 & Equity & 46,237,500,000 & 80% & & & & \\ \hline 64,046,000,000 & Total & 64,046,000,000 & 100% & 58,110,500,000 & Total & 58,110,500,000 & 100% & & & & \\ \hline \end{tabular} VL=VU+TDVop(U)=[FCF(1+g)]/(WACCg)

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