The momi corporation’s cash flow from operations before interest and taxes was $1.9 million in the year just ended, and it expects that this will grow by 5% per year forever. to make this happen, the firm will have to invest an amount equal to 19% of pretax cash flow each year. the tax rate is 21%. depreciation was $250,000 in the year just ended and is expected to grow at the same rate as the operating cash flow. the appropriate market capitalization rate for the unleveraged cash flow is 12% per year, and the firm currently has debt of $5 million outstanding. use the free cash flow approach to calculate the value of the firm and the firm’s equity. (enter your answer in dollars not in millions.)

Arguments made against free trade include all of the following exceptdumping is an unfair trade practice that puts domestic producers of substitute goods at a disadvantage that they should be protected against.national defense considerations justify producing certain goods domestically whether the country has a comparative advantage in their production or not.free trade is inflationary and should be restricted in the domestic interest. if foreign governments subsidize their exports, foreign firms that export are given an unfair advantage that domestic producers should be protected against.infant industries should be protected from free trade so that they may have time to develop and compete on an even basis with older, more established foreign industries.