You need to estimate the value of Laputa Aviation. You have the following forecasts (in millions of dollars) of its profits and of its future investments in new plant and working capital:

	Year
		1			2			3			4
Earnings before interest, taxes, depreciation, and amortization (EBITDA)		88			108			123			128
Depreciation		28			38			43			48
Pretax profit		60			70			80			80
Tax at 40%		24			28			32			32
Investment		17			20			23			25

From year 5 onward, EBITDA, depreciation, and investment are expected to remain unchanged at year-4 levels. Laputa is financed 50% by equity and 50% by debt. Its cost of equity is 19%, its debt yields 10%, and it pays corporate tax at 40%.

a. Estimate the companys total value. (Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole dollar amount.)

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b. What is the value of Laputas equity? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

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