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JenBritt Incorporated had a free cash flow ( FCF ) of $ 8 0 million in 2 0 2 3 . The firm projects FCF

JenBritt Incorporated had a free cash flow (FCF) of $80 million in 2023. The firm projects FCF of $270 million in 2024 and $490 million in 2025. FCF is expected to grow at a constant rate of 4% in 2026 and thereafter. The weighted average cost of capital is 10%. What is the current (i.e., beginning of 2024) value of operations? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to two decimal places.
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