Levered Beta of comps: 0.90; Risk-free rate: 4%; Ave comps D/E: 25%

Marginal Tax rate: 30% of Synergy, Inc. ; Expected market return (Rm): 8.5%

Optimal debt/ equity: 33%

Interest rate on debt (most recent) of Synergy, Inc.: 5%

In continuation of the above data set , we also have:

EBIT after adjustments of Synergy, Inc.: $45 MM; D&A: $8 MM

Expected growth rate in perpetuity: 4%; new projects ROI: 24%

What value would you assign Synergy, Inc.?