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)	$ 90	$ 110	$ 125	$ 130
Depreciation	10	20	25	30
Pretax profit	80	90	100	100
Tax at 30%	24	27	30	30
Investment	19	22	25	27

From year 5 onward, EBITDA, depreciation, and investment are expected to remain unchanged at year-4 levels. Laputa is financed 40% by equity and 60% by debt. Its cost of equity is 12%, its debt yields 7%, and it pays corporate tax at 30%.

Estimate the companys total value.

Note: Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole amount.

What is the value of Laputas equity?

Note: Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole amount.