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Year Free Cash Flow 1 $12 million 2 $18 million 3 $22 million 4 $26 million Conundrum Mining is expected to generate the above free

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Year Free Cash Flow 1 $12 million 2 $18 million 3 $22 million 4 $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 6% per year. If the weighted average cost of capital is 13% and Conundrum has cash of $80 million, debt of $60 million, and 30 million shares outstanding, what is Conundrum's expected terminal enterprise value? A. $452.8 million B. $433.1 million C. $354.3 million D. $393.7 million

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