It is Dec 2021 and a firm generated free cash flow (FCF) of $10 million in 2021. You expect the firms FCF to grow at a rate of 2% in perpetuity. The firm has a debt-to-value ratio of 25%. Its beta is 1.6. The market risk premium is 5%. The risk-free rate is 4%. The yield to maturity on the firms corporate bonds is 6%. The corporate tax rate is 20%. The firm has $28 million debt outstanding, and the cash balance is $15 million.

What is the firms enterprise value?

A) 95M

B) 120 M

C 118 M

D 278 M