A company forecasts free cash flow next year to be -5


A company forecasts free cash flow next year to be -$5 million, $12 million in two years, and $16 million in 3 years. Thereafter, free cash flow is projected to grow at a constant rate of 4% per year forever. If the overall cost of capital is 16%, what is the current value of operations, to the nearest million?

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Financial Management: A company forecasts free cash flow next year to be -5
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