L has EAT, depreciation expense, capital expenses and debt principal payments of $3.5m, $ 3m, $ 4m, and $.5m respectively. Additionally, it has sales of $70 million, debt of $600 million and equity of $400 million. Between the first and the second years, it has current assets of $111m and $114m and current debts of $50m and $51m respectively. Its unlevered beta, D/E and t are 2, 30/70 and .20 respectively. Its retention rate is 25%. The risk premium is .12 and the risk free rate is 6%. L plows about 30% of its profits back into its business. Derive the value of L.