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You are using the FCFF approach to value a business. The estimated FCFF for next year will be $13.6 million, and it will increase at

You are using the FCFF approach to value a business. The estimated FCFF for next year will be $13.6 million, and it will increase at a rate of 6 percent for each of the following five years. After that point, the FCFF will increase at a rate of 3 percent forever. If the WACC for this firm is 8 percent, what is it worth

a. $308 million

b. 354 million

c. $241 million

d. $144 million

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