You are analyzing the firm Aeroi Co Ltd. The firm's fiscal year ended 30 September 2020, and you must estimate Aeroi Co Ltd's value as of 1 October. You have the following actual and forecast year-end free cash flows:

FCFF(2019)131000

FCFF(2020)124000

FCFF(2021)124000

FCFF(2022)124000

FCFF(2023)124000

In addition, you have estimated that the terminal growth rate should be 3%, the PE is 25, the beta is 1.23, the cost of equity is 11%, the after tax cost of debt is 6%, the weight of debt is 60%, and the risk-free rate is 2%.

What is the estimated Free Cash Flow to the Firm (FCFF) value?

Select one:

a.1,410,271

b.1,725,913

c.1,112,632

d.2,091,160

e.none of these are correct