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Hill McLaw's free cash flow will be $30 million next year and it will grow at a constant rate of 3 percent forever. The company

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Hill McLaw's free cash flow will be $30 million next year and it will grow at a constant rate of 3 percent forever. The company will launch Project X in three years. It will require a $10 million investment and will increase the firm's free cash flow by a constant $9.2 million every year forever starting one year later (i.e. 4 years from now). Suppose the relevant discount rate is 10.5 percent. What is the Enterprise Value of Hill McLaw's? Select one: a. $458 million O b. $236 million O c. $343 million O d. $478 million e. $58 million

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