Unlevered Value

Richter Manufacturing has a $9\%$ unlevered cost of equity. Richter forecasts the following free cash flows $($FCFs$),$ which are

expected to grow at a constant $4\%$ rate after Year $3.$

a$.$ What is the horizon value of the unlevered operations? Do not round intermediate calculations. Round your answer to the

nearest dollar.

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b$.$ What is the total value of unlevered operations at Year $0?$ Do not round intermediate calculations. Round your answer to the

nearest dollar.

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