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Milton forecasts annual free cash flow of 6.6 million euros. Its tax rate is 35%; its zero-debt cost of capital is 15%. Milton is in

Milton forecasts annual free cash flow of 6.6 million euros. Its tax rate is 35%; its zero-debt cost of capital is 15%. Milton is in debt to the tune of 20.2 million euros and wants to keep its debt level constant. What is Milton's value in the presence of indebtedness?

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