Recall the Value of the Firmo = _FCF/[1+ WACC] with t from 1 to . The owners of Martial Arts Inc. [the owner/operator of a chain of karate dojos] are considering selling their business to a private equity firm. Next year's end-of-year free cash flow (FCF) is expected to be $1.25 million, lower than recent years due to a major expansion. Free Cash Flow is expected to grow at the rates shown in the table below thereafter. Beginning in year 7 a constant growth rate of 4% is forecast. The company's WACC is 6.50%. What is the estimated intrinsic value of the firm in millions of dollars? Year Growth Rates 1 2 3 4 5 30.00% 25.00% 20.00% 15.00% 6 10.00% 7 4.00%