please provide step-by-step solution.

Q7.4. An analyst produces the following set of forecasts for company D: Year Year Year t+1 t+2 t+3 NOPAT 250 220 100 Ending book value of net operating assets 800 860 800 At the end of year t, the book value of company D's net operating assets is 900 and the market value profits net debt is 300. Company D has no investment assets. The analyst expects that after year t+3 NOPAT will be 0 and the book value of net operating assets will remain constant (i.e., at its year t+3 level). Company D's WACC is 8%. Under these assumptions, the analyst's estimate of company D's equity value at the end of year t is