You are in the middle of valuing a stock using the dcf method. according to your projections, the company is expected to generate free cash flows of $71 million in 4 years, after which fcff is expected to grow at a stable rate in perpetuity. instead of using the perpetuity growth method, you decide to estimate the company's terminal value using the exit multiple approach. your analysis of comparable companies reveal an average ev/fcff ratio of 10.3. what is your estimate of the company's terminal value? answer in millions, rounded to one decimal place.

Afirm wants to hire a project manager (pm) at a salary of $100,000. 30% of pms have high ability, and 70% of pms have low ability. high ability pms generate $120,000 in revenue and low ability pms generate $80,000 in revenue. in addition to differences in productivity, high and low ability pms have different outside offers. if a high ability pm is not hired by the firm, she can work for another company at a salary of $80,000. if the low ability pm is not hired by the firm, she can work for another company for $70,000. high ability pms are also able to get a project management professional (pmp) certification at a cost of $1,000. low ability pms are unable to get a pmp certification (they would fail the test). the firm is not able to observe a pm’s ability, but is able to observe and verify whether or not the pm has a pmp certificate.(a) draw the extensive form of the game.expert answer