Suppose Company A has revenue $45 million this year and we assume that its future performance will be tracked relative to sales as follows:

Sales growth and the net profit margin are projected by year as shown in the following table:

year	1	2	3	4	5	6
Sales growth	35%	28%	24%	20%	15%	6%
Net profit margin	10.0%	9.0%	8.0%	7.0%	6.5%	6.0%
The growth rate will maintain at 6% after year 6

Fixed capital investment net of depreciation is projected to be 25% of the sales increase in each year.

Working capital requirements are 8.0% of the projected dollar increase sales in each year. Debt will finance 30% of the investments in net capital and working capital. Risk free rate is 3%, beta equity is 1.1, and market return is 7% Calculate the value of the equity of this company.