2. Chapter 6: Problem solving Check my work mode: This shows what is correct or incorrect for the work you have completed You are going to value Lauryn's Doll Co using the FCF model. After consulting various sources, you find that Lauryn's has a reported equity beta of 15, a debt-to-equity ratio of 4, and a tax rate of 21 percent. Assume a risk free rate of 5 percent and a marketi premium of 7 percent. Lauryn's Doll Co had EBIT last year of 546 million, which is net of a depreciation expense of $46 milion In addition, Lauryn's made $6.25 million in capital expenditures and increased net working capital by $3.6 million. Assume the FCF expected to grow at a rate of 3 percent into perpetuity. What is the value of the firm? (Do not round Intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Answer is complete but not entirely correct. Firm value 22245 million