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Lambert Corporation had $100 million in EBIT for last year. Depreciation expense totaled $20 million and capital expenditures came to $5 million. Free cash flow

Lambert Corporation had $100 million in EBIT for last year. Depreciation expense totaled $20 million and capital expenditures came to $5 million. Free cash flow is expected to grow at a rate of 4.5% for the foreseeable future. Lambert faces a 40% tax rate and has $255 million (market value) in debt outstanding. Lambert's weighted average cost of capital is 11.65%. What is the current total value of Lambert's equity (in millions)?

$655.90

$731.20

$1,025.95

$951.26

$841.15

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