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Thorton Co. expects to generate future net cash flows of $12 million each year forever. This companys Beta is 1.5 and the risk-free rate and

  1. Thorton Co. expects to generate future net cash flows of $12 million each year forever. This companys Beta is 1.5 and the risk-free rate and market return are 4% and 10%, respectively. What will be the value? (5 points)

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