You have been asked to review a terminal value calculation $($projected for the end of year $10)$ of a technology company. The analyst has forecast the after$-$tax operating income in year $11$ to be SEK $129$ million, and estimated a growth rate of $5\mathrm{.}4\%$ in perpetuity. He has also assumed that net capital expenditures in year $11$ will be SEK $59$ million and that working capital will increase by SEK $5$ million in that year. Finally, he is continuing to use the firm$$s current high cost of capital $($which is $12\mathrm{.}3\%)$ in estimating terminal value.

Taking all of the analyst$$s assumptions about growth, reinvestment and cost of capital as given, estimate the terminal value of the firm in ten years. Round your answer to two decimals. WRITE $9\mathrm{.}97$ if your answer is $9,97.$

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