The following forecasts were made at the end of 2018 for a firm with CSE of $415 million and NFO of $720 million. The required return for operations is 12%. 2019E 2020E 2021E 2022E Operating income (in millions) 187 200.09 214.10 229.08 Net Operating Assets (in millions) 1,214.45 1299.46 1,390.42 1,487.75 ReOl (in millions) What is the equity value of this firm by the end of 2018? O a. $1,588 million O b. $2,151 million O c. $2,071 million O d. $1,431 million. O e, none of the above