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Diebold IncorporatedDiebold Incorporated manufactures, markets, and servicesautomated teller machines in the United States. The following areselected numbers from the financial statements for Year 1 and Year2 (in millions):Year 1 Year 2Revenues $ 544.0 $620.0Operating Expenses (465.1) (528.5)Depreciation (12.5) (14.0)= Earnings before Interest and Taxes 66.4 77.5Interest Expenses 0.0 0.0Taxes (25.3) (29.5)= Net Income $41.1 $ 48.0Working Capital $ 175.0 $240.0The firm had capital expenditures of $15 million in Year 1 and$18 million in Year 2. The working capital in Year 0 was $180million. In Year 3 and into the future, the firm expects $40million in free cash flows. Its WACC is 7.5 percent and expectedgrowth rate is 2.5 percent.What is the market value of equity? Explain anyassumptions.