Question: Leave the answer in condensed form. For example 1.2 million instead of 1,200,000. Thank you. Required: FinCorp's free cash flow to the firm is reported

Leave the answer in condensed form. For example 1.2 million instead

Leave the answer in condensed form. For example 1.2 million instead of 1,200,000. Thank you.

Required: FinCorp's free cash flow to the firm is reported as $205 million. The firm's interest expense is $22 million. Assume the corporate tax rate is 21% and the net debt of the firm increases by $3 million. What is the market value of equity if the FCFE is projected to grow at 3% indefinitely and the cost of equity is 12%? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Market value million

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