Flagstaff Enterprises expects to have free cash flow in the coming year of $8 million, and this free cash flow is expected to grow at a rate of 3% per year thereafter. Flagstaff has an equity cost of capital of 13%, a debt cost of capital of 7%, and it is in the 35% corporate tax bracket. If Flagstaff currently maintains a debt-to-equity ratio of 1, then the enterprise value of Flagstaff is closest to:

A) $100 million

B) $114 million

C) $111 million

D) $140 million