The free cash flows (in millions) shown below are forecast by Simmons Inc. If the weighted average cost of capital is 13% and the free cash flows are expected to continue growing at the same rate after Year 3 as from Year 2 to Year 3, what is the Year 0 value of operations, in millions?
Year:1
2
3
Free cash flow:?$20
$42
$45
A. $586
B. $617
C. $648
D. $680
E. $714
Answer: B
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What was the argument made by the state when it asserted that the statements were covered by the attorney-client privilege?
What will be an ideal response?