Assume the following free cash flows for Zhang Inc. for 2011 and forecasted FCFF for 2012 onward (in millions):

Current

Forecast Horizon

Terminal

($millions)	2011	2012	2013	2014	2015	Year
Free cash flows to the firm (FCFF)	$1,000	$1,100	$1,200	$1,300	$1,400	$1,500

The DCF value of the firm using the FCFF information above, a discount rate of 10%, and an expected terminal growth rate of 5.0%, is:

	A.	$24,360 million
	B.	$29,832 million
	C.	$21,820 million
	D.	$25,231 million
	E.	None of the above