Calculate the present value of the Terminal Value using the Gordon Growth perpetuity method using the information outlined below:

• In the last year of a five-year forecast, the company was projected to perform as follows:
  • Operating Profit of $100
  • Tax rate of 25%
  • Depreciation expense of $10
  • Capital Expenditures of $12
  • Interest expense of $10
  • Change in NWC of $7
  • EV/EBITDA comparables of 10x
  • Cash on balance sheet is $6
  • WACC of 8.5%
  • Long-term industry growth of 2%