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You are going to value Lauryn's Doll Co. using the FCF model. After consulting various sources, you find that Lauryn's has a reported equity beta

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You are going to value Lauryn's Doll Co. using the FCF model. After consulting various sources, you find that Lauryn's has a reported equity beta or 1.4, a debt-to-equity ratio of 7.and a tax rate of 21 percent. Assume a risk-free rate of 4 percent and a market risk premium of 11 percent. Lauryn's Doll Co. had EBIT last year of $44 million, which is net of a depreciation expense of $4 4 million. In addition, Lauryn's made $5.25 million in capital expenditures and increased net working capital by $3.3 million. Assume the FCF is expected to grow at a rate of 3 percent into perpetuity. What is the value of the firm? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Fimm value million

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