Steven is evaluating Elion Inc by using FCFF valuation approach. He has collected the following information: Net income is $187 million, depreciation $40 million, capital expenditures $118 million, and an increase in working capital of $18 million Interest expenses are $35 million. Current market value of outstanding debt is $573 million. FCFE is expected to grow at 3% indefinitely. The tax rate is 28%. Company is financed with 60% debt and 40% of equity (Hint: WACC weights). The before-tax cost of debt is 6.5% and the cost of equity is 15%. There are 100 million shares outstanding.

Using FCFF valuation approach, estimate the total value of the firm, the total market value of equity and the per-share value of equity.