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Year 1 2 3 4 Earnings before interest, taxes, depreciation, and amortization ( EBITDA ) $ 7 3 $ 9 3 $ 1 0 8

Year1234Earnings before interest, taxes, depreciation, and amortization (EBITDA)$ 73$ 93$ 108$ 113Depreciation33434853Pretax profit40506060Tax at 30%12151818Investment19222527From year 5 onward, EBITDA, depreciation, and investment are expected to remain unchanged at year-4 levels. Laputa is financed 60% by equity and 40% by debt. Its cost of equity is 18%, its debt yields 9%, and it pays corporate tax at 30%.aEstimate the companys total value.Note: Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole amount.bWhat is the value of Laputas equity?Note: Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole amount.

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