Given the following information

Items$\backslash$Year $202320242025$ Terminal year $(2026)$

EBIT $9\mathrm{.}9714\mathrm{.}5318\mathrm{.}8626\mathrm{.}33$

FCInv $1\mathrm{.}341\mathrm{.}853\mathrm{.}003\mathrm{.}96$

WCInv $1\mathrm{.}702\mathrm{.}883\mathrm{.}064\mathrm{.}68$

Depreciation $1\mathrm{.}08$

$1\mathrm{.}50$

$1\mathrm{.}94$

$1$

Interest $0\mathrm{.}560\mathrm{.}951\mathrm{.}391\mathrm{.}79$

Net Borrowing $1\mathrm{.}161\mathrm{.}371\mathrm{.}71-0\mathrm{.}79$

Assume that tax rate is $0\mathrm{.}2.$ Year $2026$ is the terminal year. After $2026,$ the firm's FCFF will grow at $6\%$ forever. Finally, assume that the firm's discount rate is $11\%.$ What is the value of the equity holders?

hint: you need to use FCFE instead of FCFF $($assume that FCFE will grow at the same constant growth rate$)$

FCFF $=$ EBIT$(1$ Tax rate$)+$ Dep $$ FCInv $$ WCInv.

FCFE $=$ FCFF $$ Int$(1$ Tax rate$)+$ Net borrowing.