You decide to value American Beer Brewing (ABB) using a free cash flow model. You estimate that ABB has an equity beta of 1.15, debt to equity of 0.9, and a tax rate of 20%. The current risk-free rate is 1.25% and you expect a market risk premium of 5.75%. ABB had earnings before interest and taxes (EBIT) last year of $8.23 billion, which is net of a depreciation expense of $370 million. In addition, ABB made $478 million in capital expenditures (capex) and increased net working capital by $19 million. You expect FCF to grow at a rate of 4% next year and into perpetuity.

What is the value of the firm?