Strauss, Inc. is considering a takeover bid for Wagner Corp., a marketing firm that develops mythical characters to sell German gold jewelry. As part of Strauss due diligence, they have asked you to value Wagner Corp. Wagners free cash flows to the firm are expected to be $20 million next year and $30 million the following year. Beginning in year 3, Strauss believes that Wagners cash flows will increase by 2% per year in perpetuity. Wagners WACC is 7%. What is Wagners intrinsic value?