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Problem 7.35 Valuing Businesses.(LO3) Consider the table given below to answer the following question. Assuming that competition drives down profitability (on existing assets as well

image text in transcribed Problem 7.35 Valuing Businesses.(LO3) Consider the table given below to answer the following question. Assuming that competition drives down profitability (on existing assets as well as new investment) to 11.5% in year 6,11% in year 10.5% in year 8 , and 8% in year 9 and all later years. What is the value of the concatenator business? Assume 10% cost of capital Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places

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