A company is expecting to generate $5 million, $10 million and $15 million in free cash flows in the next three years. After 3 years, the company is expecting its free cash flows to grow at a constant 4% per year forever. The firm has $40 million total in debt and preferred stock and has 10 million shares of common stocks outstanding. If the firm's WACC (weighted average cost of capital) is 10%, Its intrinsic value per share is closest to

$15.65

$23.73

$17.94

$25.31