What is the maximum price that Neuqun should pay to equity shareholders for Artforever.com?

WACC= growth rate = 8.09% 2% Value of Debt= $1,475,000.00 Sales Revenue COGS Selling, General, & Admn Expenses EBIT Taxes EBIAT Depreciation Investment in CapEx and NWC Free Cash Flow to Firm 2018 $1,000,000.00 $420,000.00 $150,000.00 $415,000.00 $166,000.00 $249,000.00 $15,000.00 $25,000.00 $239,000.00 2019 $1,250,000.00 $525,000.00 $187,500.00 $507,500.00 $203,000.00 $304,500.00 $30,000.00 $55,000.00 $279,500.00 2020 $1,875,000.00 $787,500.00 $281,250.00 $756,250.00 $302,500.00 $453,750.00 $50,000.00 $170,000.00 $333,750.00 2021 $2,100,000.00 $882,000.00 $315,000.00 $831,000.00 $332,400.00 $498,600.00 $72,000.00 $80,000.00 $490,600.00 2022 $3,750,000.00 $1,575,000.00 $562,500.00 $1,532,500.00 $613,000.00 $919,500.00 $80,000.00 $80,000.00 $919,500.00 Step 1: Compute CF6 Step 2: Compute WACC -9 Step 3: Compute TV5 $937,890.00 6.09% $15,395,436.64 PVO or Value of Firm $12,140,470.47 Value of Equity $10,665,470.47