The following table presents forecasted financial and other information for Scott's Miracle-Gro Co.:

What is an appropriate estimate of Scott's terminal value as of the end of 2014, using the perpetual-growth equation as your estimate?

$3,240 million

$3,833 million

$161 million

$568 million

$3,888 million

Projected EBIT Earning after tax Free cash flow 2012 $317 197 135 2013 $339 210 144 2014 $382 229 157 Scott's WACC Expected growth rate in FCFs after 2014 Warranted MV firm/F CF in 2014 Warranted P/E in 2014 8.2% 4,090 19.4 18.7