The firm's fiscal year (FY) end is December 31^st, the expected long-term perpetual annual growth rate in the firm's free cash flows after FY 2023 is 2%/year, the firm's cost of equity (Ke) is 7.5%, and the firm's WACC is 5%.Assuming a valuation date of June 30^th, 2020, provide an equation, with the appropriate numeric inputs, to calculate the value of the firm's operating assets:

FY 2020FY 2021FY 2022FY 2023

Annual Free Cash Flows$120 m$180 m$220 m$230 m