Lauryns Doll Co. had an EBIT last year of $65 million, which was net of a depreciation of $4.5 million. Lauryn also had $7.25 million in capital expenditure and increased net working capital by $2 million. Assume the FCF is expected to grow at a perpetual rate of 3% and the tax rate is 40%. If the relevant discount rate is 11%, what is the value of the firm?

Group of answer choices

$440.97 million

$238.75 million

$350.84 million

$521.45 million