XYZ Corp. is a well-established company known for its consistent revenue growth. Analysts at XYZ Corp. are projecting that the company will generate the following free cash flows for the next five years:
Year 1: $5 million
Year 2: $6 million
Year 3: $8 million
Year 4: $10 million
Year 5: $12 million
After Year 5, analysts expect the free cash flow to grow at a stable rate of 3% indefinitely. If the appropriate discount rate is 10%, what is the present value of the cash flows in Year 1 through Year 5 and the present value of the terminal value at Year 5?