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Ryan Enterprises forecasts the free cash flows (in millions) shown below. Assume the firm has zero non-operating assets. The weighted average cost of capital is

Ryan Enterprises forecasts the free cash flows (in millions) shown below. Assume the firm has zero non-operating assets. The weighted average cost of capital is 13.0%, and the FCFs are expected to continue growing at a 3.0% rate after Year 3. What is the firms total corporate value (in millions)? Do not round intermediate calculations.

Year 1 2 3
FCF -$10.0 $10.0 $20.0
a. $155.61 million
b. $141.75 million
c. $168.25 million
d. $151.45 million
e. $175.84 million

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