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ZZA recently introduced a new line of products that has been wildly successful. On the basis of this success and anticipated future success, the following

ZZA recently introduced a new line of products that has been wildly successful. On the basis of this success and anticipated future success, the following free cash flows were projected (in millions): Year 1 2 3 4 5 6 7 8 9 10 FCF $6.1 $12.6 $18.9 $47.8 $68.7 $89.7 $103.4 $129.9 $147.8 $165.2 After the 10th year, ZZA's financial planners anticipate that its free cash flow will grow at a constant rate of 6%. Also, the firm concluded that the new product caused the WACC to fall to 9%. The market value of ZZA's debt is $1,500 million, it uses no preferred stock, it has zero non operating assets; and there are 20 million of common stock outstanding. Use the corporate valuation model to value the stock. Round your answer to the nearest cent

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