The company AEON SA intends to acquire FORMA S$.$A$.$ and provides the following information:$\backslash$table$[[$Year$,0,1,2],[$Sales$,1000,1200,1300],[$Cost of Sales,$700,840,910],[$Fixed Costs,$100,100,100],[$Depreciation$,120,120,120],[$Accounts receivable,$300,320,340],[$Accounts payable,$410,420,420],[$Inventory$,110,120,140],[$Suppliers$\text{'}$ prepayment,$50,40,40],[$Cash$,110,110,110],[\backslash$table$[[$Investment on fixed$],[$assets$]],200,150,180]]$

Year $0$ is the fiscal year that just ended. Data for years $1$ and $2$ are forecasts.

The tax rate of the sector is $25\%.$ The cost of borrowing is $6\%.$

FORMA SA has a share capital of $300$ thousand and loans of $200$ thousand and

its capital structure is not going to change in the future.

The industry average beta $(\backslash$beta $)$ is $1$ with an average debt$/$equity ratio equal to $1.$ The $10-$year risk$-$free rate equals $4\%$ while the market risk premium equals $4\mathrm{.}5\%.$ You believe that after the $2$nd year, the beta of FORMA S$.$A$.$ will equal $1$ and that its net cash flows will grow at a rate of $2\%$ in perpetuity. AEON SA is willing to pay a $20\%$ redemption premium over the fair value for the shares of FORMA SA$.$

What is the maximum amount you would advise AEON S$.$A$.$ to pay for the shares of FORMA SA$?$