Consider the table given below to answer the following question. 1 9.00 1.17 1.17 2 10.17 1.32 1.32 Year Asset value Earnings Net investment Free cash flow (FCF) Return on equity (ROE) Asset growth rate Earnings growth rate 3 4 11.49 12.99 1.49 1.69 1.49 1.30 0.39 0.13 0.13 0.13 0.10 0.13 0.10 5 14.28 1.86 1.43 0.43 0.13 0.10 0.06 6 7 15.71 17.28 1.96 2.07 1.57 1.21 0.39 0.86 0.125 0.12 0.10 0.07 0.06 0.03 8 9 10 18.49 19.79 21.17 2.13 1.78 1.91 1.29 1.39 1.48 0.40 0.42 0.115 0.09 0.09 0.07 0.07 0.07 0.16 -0.07 1.12 .83 0.13 0.13 0.13 0.13 0.13 0.13 Assuming that competition drives down profitability (on existing assets as well as new investment) to 12.5% in year 6, 12% in year 7, 11.5% in year 8, and 9% in year 9 and all later years. What is the value of the concatenator business? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million Consider the table given below to answer the following question. 1 9.00 1.17 1.17 2 10.17 1.32 1.32 Year Asset value Earnings Net investment Free cash flow (FCF) Return on equity (ROE) Asset growth rate Earnings growth rate 3 4 11.49 12.99 1.49 1.69 1.49 1.30 0.39 0.13 0.13 0.13 0.10 0.13 0.10 5 14.28 1.86 1.43 0.43 0.13 0.10 0.06 6 7 15.71 17.28 1.96 2.07 1.57 1.21 0.39 0.86 0.125 0.12 0.10 0.07 0.06 0.03 8 9 10 18.49 19.79 21.17 2.13 1.78 1.91 1.29 1.39 1.48 0.40 0.42 0.115 0.09 0.09 0.07 0.07 0.07 0.16 -0.07 1.12 .83 0.13 0.13 0.13 0.13 0.13 0.13 Assuming that competition drives down profitability (on existing assets as well as new investment) to 12.5% in year 6, 12% in year 7, 11.5% in year 8, and 9% in year 9 and all later years. What is the value of the concatenator business? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million