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Ryan Enterprises forecasts the free cash flows (in millions) shown below. Assume the firm has zero non-operating assets. The weighted average cost of capital is

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Ryan Enterprises forecasts the free cash flows (in millions) shown below. Assume the firm has zero non-operating assets. The weighted average cost of capital is 13.0%, and the FCFs are expected to continue growing at a 5.0% rate after Year 3. What is the firm's total corporate value (in millions)? Hint: Like homework 9-15, first calculate the horizon value for years 4 and beyond using Firm Value3=FCF1/(WACC-g). Than add that Horizon Valuez to the year 3 FCF, and finally solve for the NPV of the 3-year FCFs to obtain total Firm Valueo. Year 1 2 3 FCF -$15.0 $10.0 $55.0 $522.31 $532.97 $660.88 O $442.37 $564.95

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