Technologies is a privately held developer of advanced security systems based in Chicago. As part of your business development$$ strategy, in late $2008$ you initiate discussions with IDX$\text{'}$s founder about the possibility of acquiring the business at the end of $2008.$ Estimate the value of IDX per share using a discounted FCF approach and the following$$ data:

bullet $$Debt: $$$$39$ million

bullet Excess$$ cash: $$$$113$ million

bullet Shares$$ outstanding: $52$ million

bullet Expected FCF in $2009$: $$$$50$ million

bullet Expected FCF in $2010$: $$$$59$ million

bullet Future FCF growth rate beyond $2010$: $5\mathrm{.}4\%$

bullet $$Weighted$-$average cost of$$ capital: $9\mathrm{.}5\%$

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Part $1$

The terminal enterprise value in $2009$ is $$$

$$

enter your response here million. $($Round to two decimal$$ places.$)$