Zhdanov Inc. forecasts that its free cash flow in the coming year, i.e., at t = 1, will be $15 million and its FCF at t = 2 will be $25 million. After Year 2, FCF is expected to grow at a constant rate of 4% forever. If the weighted average cost of capital is 14%, what is the firms value of operations, in millions? Select one: a. $167 b. $175 c. $232 d. $292