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3. Knopfler Inc. has forecasted that it's free cash flow three years from now, FCF3, will be $44 million. After three years, free cash flow

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3. Knopfler Inc. has forecasted that it's free cash flow three years from now, FCF3, will be $44 million. After three years, free cash flow is expected to grow at a constant rate of 5%. If the WACC is 15%, what is the present value of Knopfler's horizon value, Vz? O a. $195.69 million O b. $218.43 million O c. $289.31 million d. $303.77 million

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