Consider a company that is expected to generate free cash flows (FCF) of $2 million in Year 1, $3 million in Year 2, and $4 million in Year 3. Beyond Year 3, the company anticipates a perpetual growth rate of 4%. The required rate of return for investors is 10%. Using a Free Cash Flow to Firm (FCFF) model, what is the present value of the company’s free cash flows assuming cash flows grow perpetually after Year 3?