You have been given the information for Knicks Inc, a publicly traded sporting team that owns 72% of Linsanity, a television network. Linsanity has been fully consolidated into Knicks’s financial statements. You have collected the following information:

Knicks (consolidated, denominated in millions)

 After-tax Operating Income of $35

 Book (Market) debt of $41

 Book equity of $110

 Book cash of $25

 Cost of capital for a typical sporting team is 7%

 In stable growth with a growth rate of 2.5% forever

Linsanity (denominated in millions)

 After-tax Operating Income $15

 Book (market) debt of $21

 Book equity of $35

 Book cash of $12

 Cost of capital for a typical television network is 9%

 In stable growth with a growth rate of 2.5% forever

Estimate the value of equity in Knicks Inc.(Consolidated)