It is currently the end of $2023,$ and you have been asked to determine the projected cash flows of your firm, Uber Technologies $($symbol: UBER$),$ next year for decision$-$making purposes. Below is some financial statement information that is loosely based on UBER for the fiscal year ended December $31,2023$:

Income Statement $($in millions $$)$

Year Ended December $31,2023$

$\backslash$table$[[$Sales$,36,000],[$Cost of Sales,$21,700],[$Gross Income,$14,300],[$Selling$,$ General, Administrative Expenses,$7,400],[$Research and Development,$3,100],[$Other Expenses,$1,100],[$Depreciation$,800],[$Interest Expense,$630],[$Pre$-$Tax Income,$1,270],[$Tax$,270],[$Net Income,$1,000]]$

a$)$ Construct a pro$-$forma income statement for December $31,2024.$ Management assumes that sales will grow by $15$ percent next year, and that "Other Expenses" will remain unchanged. Also assume that net property, plant, and equipment at the end of $2022$ is valued at $$22,900M,$ net property, plant, and equipment at the end of $2023$ is valued at $$26,200M,$ long$-$term debt at the end of $2022$ is $$10,900M,$ and long$-$term debt at the end of $2023$ is $$10,600M.$

b$)$ Suppose that management plans to issue a special dividend of $$1,500M$ and purchase $$1,000M$ worth of new buildings and equipment in $2024.$ Using this information and numbers from part $($a$),$ calculate the following: $(1)$ projected net, property, plant and equipment at the end of $2024,$ and $(2)$ projected shareholders' equity at the end of $2024.$ Assume that shareholders' equity at the end of $2023$ equals $$8,500M.$

c$)$ Using numbers from parts $($a$)$ and $($b$),$ calculate the projected net funding need for UBER in $2024.$ Management projects that net working capital will increase by $$200M$ in $2024.$

d$)$ What is the projected free cash flow in $2024?$ If the free cash flow is projected to grow at $3\mathrm{.}5\%$ per year in perpetuity, and the discount rate for these free cash flows is $9\mathrm{.}0\%,$ then what is the present value in $2023$ of all UBER free cash flows?