A firm's cash flow from operations is $40 million, depreciation is $2 million, its investments in fixed capital totals $14 million, its after-tax interest totals $4 million and its investment in working capital totals $4 million. During the year the firm borrowed $5 million. The tax rate is 30%. What is its Free Cash Flow to Equity? Select one:

a. $41.00 million

b. $31.00 million

c. $29.00 million

d. $42.20 million