Sprint Inc. expects the following:

UCFBT=$ 10 million in perpetuity from the end of year 1.

Debt= $ 20 million. Rb =5% Tax rate is 50% R0 =10%

Debt is fully amortized over 3 years in three equal payments.

Find the value of Sprints equity today.

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Part 1

Sprints Equity today is $

enter your response here

million. (Round to two decimals)

Use 99 if the answer is indeterminate