The Quicksilver Software Company is expected to grow rapidly in the next three years and then have no growth for the foreseeable future. The firm expects free cash flows from operations (FCFO) of 9.1 million, 11.4 million and 17.7 million over the next three years and thereafter its cash flows will stay constant. If the WACC is 12%, what is the enterprise value (in t=0) of this company based only on the projected FCFO (thus ignoring the Terminal Value)?

Select one:

a. 29.81 million

b. 24.0 million

c. 25.58 million

d. 31.11 million