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Ms. Jessica Medina has the following expected free cash flows from an investment in stocks. Year 1 $1,400, Year 2 $1,900, Year 3 $3,400, Year
Ms. Jessica Medina has the following expected free cash flows from an investment in stocks. Year 1 $1,400, Year 2 $1,900, Year 3 $3,400, Year 4 $4,300 (In millions). If the appropriate discount rate for her investments is 8.15 percent, what is the present value for her expected free cash flows? Round up your answer to two decimal places.
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