21. You are doing a corporate valuation of Hibiscus Co. and have estimated the following free cash flows for the next four years:

Year	FCF
1	-$3.000.000
2	2,500,000
3	4.000.000
4	6,000,000

After year 4 you expect free cash flows to grow at a constant annual rate of 5% per year. If the WACC is 10.5%, what is your best estimate of Hibiscus total corporate value?

Group of answer choices

a. 74,839,000

b. 79,026,412

c. 83,151,216

d. 87,903,458

e. 91,863,859