Kappa Cos sales were $200 last year. For the next 6 years, Kappas sales are expected to grow by 10% each year. Kappas EBIT margin is expected to be 30%. For years 1 and 2, Kappas depreciation and capital expenditures are expected to be 15% of sales. However, from year 3, Kappas capital expenditures will increase to 20% of sales. Kappas depreciation will be 15% of sales in year 3, but will increase to 20% of sales from year 4. Kappas working capital is always 10% of sales. After year 6, Kappas free cash flows are expected to grow at 1% per annum in perpetuity. Kappas tax rate is 40% and Kappas discount rate is 12%. What is Kappas firm value, based on the DCF model?

A. $464.86 B. $459.28 C. $447.97 D. $473.12