QUESTION 24 Brandily lndustries invests a large sum of money in R8D, as a resuit, it retains and reinvests all of ths eamings: In other words, Brandily does not pay any dividends, and it has no plans to pay dividends in the near tuture A major pension fund is interested in purchasing Brandtly's stock. The ponsion fund manager has estimated Brandtly's free canh flows fot the next 4 yoars as lotlown $2 milion, 55 milion, 510 milion, and 515 milion After the fourth year, free cash flow is projected to grow at a constant 7%. Brandtiy's WACC is 11\%, the market value of its debt and preferred stock totato $50 mition, the firm has 513 milion in non-operating assets, and as has 7 million shares of common stock outstanding What is the present value of the free cash llows projected during the next 4 years? Do not round intermediate calculations. Round your answer to the nearest dollar. Write out your aniwers completely. Fot exariple, 13 milion should be entered as 13,000,000. Do not put a 5 sign in your