Free Cash Flow Valuation of ABC Corp

A publicly traded company, ABC Corp, is expected to generate free cash flows of $1 million in the upcoming year. Analysts project that the free cash flow will grow at a rate of 5% annually for the next 5 years. Following this growth phase, the company is expected to enter a stable growth phase with a perpetual growth rate of 3%. ABC Corp's weighted average cost of capital (WACC) is 10%. Given this information, what is the estimated equity value of ABC Corp using the Free Cash Flow to the Firm (FCFF) valuation method?