Suppose you have estimated the free cash flows to equity hol…
Suppose you have estimated the free cash flows to equity holders over the next five years as follows: Year 1: $33.2 millionYear 2: $35.8 millionYear 3: $42.3 millionYear 4: $36.9 millionYear 5: $40.5 million You expect FCFE to remain constant at $38.6 million after year 5. If the company’s cost of equity is 13%, the WACC is 12%, the YTM is 10%, and the tax rate is 34%, then what is the value of the firm’s equity (in millions)?