Aliber Co.'s free cash flows are projected as follows: FCF₁ = $9 million; FCF₂ = $45 million; FCF₃ = $37 million. Assume that free cash flow grows at a rate of 4 percent for year 4 and beyond. If the weighted average cost of capital is 15 percent, calculate the value of the firm.

$438.49 million

$509.36 million

$244.73 million

$303.18 million

$375.01 million