37) 6 points. Pace Industries is considering acquiring Hanford Electronics. Pace wishes to do a discounted cash flow anslysis to determine the maximum it should be willing to pay for Hanford. Estimated cash flows from the acquisition are as follows: In millions: Year 1 $5 Year 2 $7 Year 3 18 After year 3 it is anticipated that the cash flows will grow at a 6 percent rate for the forseeable future. Based on the risk of the acquisition, the required return is 14 percent. What is the most that Pace should pay