Jean Jacques evaluating Pharmelt FCFT on approach and in dollar Pharmet has a net income of $286 million, depreciation of 98 min. pedres of 5154 in working capital of $42 million Pharmee will hrance 40 percent of the increase in niet fixed asseticapital expenditures less der the increase in working capital with debt financing Interest expenses are $150 million. The current market value of Pharmet's outstanding debt is 51.551 min FCFF is expected to grow at 5 percent indefinitely The tax rate is 29 percent. Pharmet ishinanced with 59 percent debt and the rest for equity. The before-tax cost of debt is 8 percent and the before tax cost of equity is 15 percent. Phaneuf has 10 million outstanding shares Your task is to estimate the total value of the equity Write your answer in decimal form and round it to two decimal places. Your answer will be in millions, for example - if you get 134.24, you can write 234.24 - but in fact, it is 234 24 "millions