In late 2009, Google acquired Admob, a company that displays advertisements on mobile phones, for $750 million. Let's suppose that Google's managers determined that Admob's stand-alone operations were worth $400 million at the time. Moreover, Google determined that the acquisition would yield the combined firm both cost savings and additional advertising revenues by making better use of Admob's proprietary technology and Google's new Android operating system. Specifically, assume that Google's projections for how these synergies would affect the combined firm's free cash flows (FCFs) over the next five years are those given below. You should assume that these additional FCFs will continue to grow at 2 percent a year after 2014, that Year 0 is 2009 and that the appropriate discount rate for Google to use in valuing the incremental cash flows from this merger is 15 percent. Use this information to answer the below questions. Beyond the above cost savings, etc., Google was also motivated to do this acquisition because it wanted to foil Apple's plans to acquire Admob. Google estimated that if Apple successfully acquired Admob, its future advertising revenue from mobile firms would be adversely affected. Specifically, it estimated the following changes in FCF, which would grow by 1 percent a year after 2014. How much should Google be willing to pay to complete this acquisition now? Note: you should assume that 15 percent is still the appropriate discount rate to use. Your answer should be rounded to two decimal places