In one years time, JB LoFi is expected to have earnings of $88.3 million. The firm is expected to pay dividends of $35.5 million and spend $11.6 million on share repurchases. Earnings are expected to grow by 16.7% annually fifteen times (until t=16). After this period, earnings are expected to remain constant in perpetuity. The firms cost of equity capital is 11.7% and the dividend and repurchase rates are expected to stay constant in perpetuity. What is the market value of the JB LoFis equity? $

In one year's time, JB LoFi is expected to have earnings of $88.3 million. The firm is expected to pay dividends of $35.5 million and spend $11.6 million on share repurchases. Earnings are expected to grow by 16.7% annually fifteen times (until t=16). After this period, earnings are expected to remain constant in perpetuity. The firm's cost of equity capital is 11.7% and the dividend and repurchase rates are expected to stay constant in perpetuity. What is the market value of the JB LoFi's equity? $ million (Give answer to 2 decimal places) In one year's time, JB LoFi is expected to have earnings of $88.3 million. The firm is expected to pay dividends of $35.5 million and spend $11.6 million on share repurchases. Earnings are expected to grow by 16.7% annually fifteen times (until t=16). After this period, earnings are expected to remain constant in perpetuity. The firm's cost of equity capital is 11.7% and the dividend and repurchase rates are expected to stay constant in perpetuity. What is the market value of the JB LoFi's equity? $ million (Give answer to 2 decimal places)