Long Q1B: You are trying to value the Houston Chronicle. You project their future FCFs to be $10 atte1 and $12 at t-2. Additionally, you know the EBIT at t=2 will be $8 and that a similar company, the Chicago Tribune, has an EV/EBIT multiple of 9. If the WACC for the Houston Chronicle is 12%, what is the enterprise value? (Hint: Use EBIT at t=2 to calculate the terminal value)