Question 22 Using a discount rate (WACC) of 6%, analysts estimated in 2020 that Target Co.'s cumulative PV of FCFF during the horizon period (2021-2024) will be $5,816 million. Forecasted FCFF in 2025 (the first year of terminal period) is $2,227 million, and terminal growth rate is 3%. The PV factor (discount factor) for year 2024 is 0.792094 What is Target's total firm intrinsic value as of 2020 using DCF model (round final answer to the nearest millions)? $61,287 $55,471 $33,552 $64,616