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Year 1 2 3 Free Cash Flow $12 million $18 million $22 million $26 million Conundrum Mining is expected to generate the above free cash

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Year 1 2 3 Free Cash Flow $12 million $18 million $22 million $26 million Conundrum Mining is expected to generate the above free cash flows over the next four years, after which they are expected to grow at a rate of 5% per year. If the weighted average cost of capital is 12% and Conundrum has cash of $80 million, debt of S60 million, and 30 million shares outstanding, what is Conundrum's expected terminal enterprise value? A. $351.0 million OB. $448.5 million OC. $390.0 million OD. $429.0 million

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