Residual Income Valuation for XYZ Corporation

XYZ Corporation is currently trading at $80 per share. Analysts project the following residual income for the next four years:

• Year 1: $5 million
• Year 2: $6 million
• Year 3: $7 million
• Year 4: $8 million

The required return on equity for firms in this sector is 10%. After Year 4, the residual income is expected to grow at a constant rate of 3% indefinitely. Based on the Residual Income Valuation method, what is the approximate intrinsic value of XYZ Corporation?