You are trying to price a Topknot Techriologies, a start$-$up and have the following projections $($in

millions$)$ for the next five years:

$\backslash$table$[[,1,2,3,4,5],[$Revenues$,$$$15\mathrm{.}00,$$$60\mathrm{.}00,$$$110\mathrm{.}00,$$$260\mathrm{.}00,$$$500\mathrm{.}00],[$EBITDA$,($$$30\mathrm{.}00),($$$50\mathrm{.}00),($$$60\mathrm{.}00),($$$30\mathrm{.}00),$$$100\mathrm{.}00],[$Tax Rate,$0\%,0\%,0\%,0\%,30\%],[$FCFF$,($$$55\mathrm{.}00),$$$$110\mathrm{.}00),($$$160\mathrm{.}00),($$$90\mathrm{.}00),($$$20\mathrm{.}00)],[\backslash$table$[[$Cost of$],[$Capital$]],11\%,11\%,11\%,11\%,11\%]]$

You have run a regression of EV$/$EBITDA against tax rate and EBITDA margin $($EBITDA$/$Sales$)$ for more established firms in the business and have the following:

EV$/$EBITDA $=8\mathrm{.}00+100\mathrm{.}00($EBITDA Margin$)-10\mathrm{.}00($Tax Rate$)$

$[$All numbers in the regression are entered in decimals, i$.$e$.,20\%$ is $0\mathrm{.}20]$

a$.$ If the cost of capital is $11\%$ and you have $$50$ million of net debt outstanding today, estimate what you would pay for equity today, based upon your expected pricing in year $5$ and incorporating the effect of cash flows for the next five years.