Start with the partial model in the file Ch$08$ P$25$ Build a Model.xlsx$.$ Selected data for the Derby Corporation are shown here. Use the data to

answer the questions.

The data has been collected in the Microsoft Excel file below. Download the spreadsheet and perform the required analysis to answer the questions

below. Do not round intermediate calculations.

Download spreadsheet Ch$08$ P$25$ Build a Model$-145446.$xlsX

a$.$ Calculate the estimated horizhn value $($i$.$e$.,$ the value of operations at the end of the forecast period immediately after the Year$-4$ free cash

flow$).$ Assume growth becomes constant after Year $3.$ Enter your answer in millions. For example, an answer of $$1\mathrm{.}23$ million should be

entered as $1\mathrm{.}23,$ not $1,230,000.$ Round your answer to two decimal places.

$

million