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)	$	79		$	99		$	114		$	119
Depreciation		29			39			44			49
Pretax profit		50			60			70			70
Tax at 40%		20			24			28			28
Investment		13			16			19			21

From year 5 onward, EBITDA, depreciation, and investment are expected to remain unchanged at year-4 levels. Laputa is financed 60% by equity and 40% by debt. Its cost of equity is 12%, its debt yields 8%, 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 amount.)

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