Misra Inc. forecasts a free cash flow of $60 million in Year 3, i.e., at t = 3, and it expects FCF to grow at a constant rate of 5.5% thereafter. If the weighted average cost of capital (WACC) is 9.0% and the cost of equity is 14.0%, then what is the horizon, or continuing, value in millions at t = 3?

a. $1,625 million

b. $1,869 million

c. $1,714 million

d. $1,809 million

e. $1,151 million