Chieffruit, a UK firm, is planning to start a new project in the US$.$ Chieffruit believes the dollar WACC of $8\mathrm{.}6\%$ is appropriate to evaluate this project. The risk$-$free interest rates on pounds and dollars are $3\mathrm{.}8\%$ and $1\mathrm{.}9\%,$ respectively.

The following expected free cash flows measured in pounds are assumed to be uncorrelated with the spot exchange rate. Assume that capital markets are internationally integrated.

Year FCF $($ millions$)$

$1195$

$2204$

$3243$

If the NPV of this project is $153$ million, the initial investment of this project is closest to:

a$.317\mathrm{.}21$ million

b$.421\mathrm{.}71$ million

c$.369\mathrm{.}46$ million

d$.562\mathrm{.}92$ million