Airdnd expects to have free cash flows of $80,000 next year, $85,000 in year 2 and $90,000 in year 3. In year 4, the expected free cash flow is $100,000 and is expected to grow at 2% afterward. Airdnd s cost of equity is 15% and its after-tax cost of debt is 4%. What is the value of the firm if its debt to value ratio is 40%?

	A.	$1,054,253
	B.	$1,244,971
	C.	$1,149,737
	D.	$1,357,054
	E.	$1,067,825