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Projected company's free cash flows (in millions) are shown below. Company's WACC = 12%. After the year 3 FCF is expected to rise annually by

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Projected company's free cash flows (in millions) are shown below. Company's WACC = 12%. After the year 3 FCF is expected to rise annually by the rate that is equal to the average growth rate for the previous two periods. What is the value of operations for this company? Year 1 2 3 Free cash flow $38 $39.8 $41.6

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