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? (Round the final answer to the nearest two digits.)

Group of answer choices

$447.97

$459.28

None of the other answers are correct

$464.86

$473.12