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Normal, inc. forecasts the free cash flows (in millions) shown below. If the weighted average cost of capital is 12% and the free cash flows

Normal, inc. forecasts the free cash flows (in millions) shown below. If the weighted average cost of capital

is 12% and the free cash flows are expected to continue growing at the same rate after Year 3 as from Year 2

to Year 3, what is the Year 0 value of operations, in millions?

Year: 1 2 3

Free cash flow: -$30 $62 $65

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