Allied Biscuit Co. is expected to generate a free cash flow (FCF) of $8,140.00 million this year (FCF₁ = $8,140.00 million), and the FCF is expected to grow at a rate of 19.00% over the following two years (FCF₂ and FCF₃). After the third year, however, the FCF is expected to grow at a constant rate of 2.10% per year, which will last forever (FCF₄). Assume the firm has no nonoperating assets. If Allied Biscuit Co.'s weighted average cost of capital (WACC) is 6.30%, what is the current total firm value of Allied Biscuit Co.? (Note: Round all intermediate calculations to two decimal places.)
a. $46,307.12 million
b. $548,735.93 million
c. $464,594.48 million
d. $557,513.38 million
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