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Assume the following free cash flows for Lowell Inc. for 2022 and forecasted FCFF for 2023 onward (in millions): Current Forecast Horizon Terminal ($millions) 2022

Assume the following free cash flows for Lowell Inc. for 2022 and forecasted FCFF for 2023 onward (in millions): Current Forecast Horizon Terminal ($millions) 2022 2023 2024 2025 2026 Year Free cash flows to the firm (FCFF) $500 $550 $600 $650 $700 $735 The present value of Terminal Year FCFF using the information above, a discount rate of 10%, and an expected terminal growth rate of 5.0%, is: (Hint: refer to slide 27 of 27) A. $10,240.3 B. $10,040.3 C. $10,140.3 D. $10,340.3

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