You are assessing the enterprise value of a company using the free cash flow from operations (FCFO) approach and have estimated that the FCFO in the next three years will be 10.1, 11.4 and 13.2 million, respectively. You estimate that the WACC is 9 per cent. What is the enterprise value (in t=0) of this company based only on the projected FCFO (thus ignoring the Terminal Value)?

a. 29.05 million

b. 28.10 million

c. 27.50 million

d. 25.65 million