Question: Problem 7-35 Valuing Businesses.(LO3) Consider the table given below to answer the following question. Assuming that competition drives down profitability (on existing assets as well

Problem 7-35 Valuing Businesses.(LO3) Consider the table given below to answer

Problem 7-35 Valuing Businesses.(LO3) Consider the table given below to answer the following question. Assuming that competition drives down profitability (on existing assets as well as new investment) to 11.5% in year 6,11% in year 7 , 10.5% In year 8 , and 8% in year 9 and all later years. What is the value of the concatenator business? Assume 10% cost of capital. Note: Do not round Intermedlate calculations. Enter your answer In millions rounded to 2 decimal places. Answer is complete but not entirely correct

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