JenBritt Incorporated had a free cash flow (FCF) of $90 million in 2019. The firm projects FCF
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JenBritt Incorporated had a free cash flow (FCF) of $90 million in 2019. The firm projects FCF of $295 million in 2020 and $570 million in 2021. FCF is expected to grow at a constant rate of 4% in 2022 and thereafter. The weighted average cost of capital is 8%. What is the current (i.e., beginning of 2020) value of operations?
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