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Utility Co has been generating free cash flow of $42 million and the firm is not expected to grow. Its cost of equity equals 15%,

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Utility Co has been generating free cash flow of $42 million and the firm is not expected to grow. Its cost of equity equals 15%, and the WACC is 10%. If the market value of the debt is $ 20 million, the value of the equity for this firm using the free cash flow valuation approach is $ million ? (keep two decimal places)

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