JenBritt Incorporated had a free cash flow (FCF) of $80 million in 2019. The firm projects FCF of $295 million in 2020 and $570 million in 2021. FCF is expected to grow at a constant rate of 6% in 2022 and thereafter. The weighted cost of capital is 8%. What is the current value of operations? Do not round intermediate calculations. Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not $1,000,000. Round your answer to two decimal places.

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Answer Therefore the current value of operations is 26662036 ... View the full answer