Young & Liu Inc.'s free cash flow during the just-ended year (t = 0) was $100 million, and FCF is expected to grow at a constant rate of 5% in the future. If the weighted average cost of capital is 15%, what is the firm's value of operations, in millions? O $948 O $998 O $1,050 O $1,103 O $1,158 PEREM PANOMENADAN 4

Young \& Liu Inc.'s free cash flow during the just-ended year (t=0) was $100 million, and FCF is expected to grow at a constant rate of 5% in the future. If the weighted average cost of capital is 15%, what is the firm's value of operations, in millions? $948 $998 $1,050 $1,103 $1,158