Gupta Corporation is undergoing a restructuring, and its free cash flows are expected to vary considerably during the next few years. However, the FCF is expected to be $30.00 million in Year 5, and the FCF growth rate is expected to be a constant 6.5% beyond that point. The weighted average cost of capital is 10.5%. What is the horizon (or continuing) value (in millions) at t = 5?

a. $750 million

b. $704 million

c. $829 million

d. $799 million

e. $492 million