You are a financial manager at Cisco and are trying to assess the following project. The project will require a $70 million initial investment and will generate free cash flows in years 1-5 as shown in the table below. Cisco maintains a constant debt-to-enterprise value ratio of 45% and its current WACC is 10.3%. Assuming that Cisco takes the project, by how much will Cisco's enterprise value increase as a result of taking the project? (Select one)

$103.63 million

$33.63 million

$46.63 million

$75 million

\begin{tabular}{|lrrrrrrr|} \hline \multicolumn{7}{|c|}{ Free Cash Flows for New Project (in \$ million) } \\ Year & 0 & 1 & 2 & 3 & 4 & 5 \\ \hline FCF (in \$ millions) & (70.00) & 5.00 & 20.00 & 50.00 & 40.00 & 30.00 \\ \hline \end{tabular}