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Stuart Inc. reported net income of $20 million for last year. Depreciation expense totaled $15 million free cash flow is expected to grow at a

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Stuart Inc. reported net income of $20 million for last year. Depreciation expense totaled $15 million free cash flow is expected to grow at a rate of 5% for the foreseeable future. Stuart faces a 40% tax rate and has a 0.40 debt to equity.ratio with $75 million (market value) in debt outstanding. Stuart's equity beta is 1.3. the risk-free rate is currently 6% and the market risk premium is estimated to be 9.0%. What is the current value (in millions) of Stuart's equity

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