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it is 2019. You are investigating the possibility of making an equity investment in Walkerville Woodworking Inc., a firm that specializes in producing antique-style furniture

it is 2019. You are investigating the possibility of making an equity investment in Walkerville Woodworking Inc., a firm that specializes in producing antique-style furniture with a modern twist. Your research has revealed the following information:

Walkerville has $8 million in excess cash and $1.5 million in debt. The company is expected to have free cash flow of $26 million in 2020 and $30 million in 2021. Beyond 2021, free cash flow is expected to grow at a constant rate of 2% per year forever. Walkervilles weighted average cost of capital (WACC) is 11% and it has 8 million shares outstanding.

What is the current enterprise value of Walkerville Woodworking given the above assumptions?

Please enter your answer in "millions of dollars" with no extra symbols such as "$". Round your answer to 2 decimal places. For example, an enterprise value of $150,367,210.21 would be entered as 150.37 and NOT as 150367210.21.

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