1. Business
2. Finance
3. Weighted Average Cost of Capital (WACC)
4. 31198

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HBT Corporation has never paid a dividend. Its current free cash flow is $1,200,000 and is expected to grow at a constant rate of 4%. The WACC is 10%. What is HBT's value of operations (in millions)?

a. $22.00
b. $20.80
c. $12.48
d. $20.00
e. $10.00