Calculating Present Value Using FCFF Model

As an equity analyst, you are tasked with valuing a company using the Free Cash Flow to Firm (FCFF) model. The company has projected the following free cash flows for the next 5 years: Year 1: $100 million, Year 2: $120 million, Year 3: $150 million, Year 4: $175 million, Year 5: $200 million. After Year 5, the company expects a perpetual growth rate of 3% and a discount rate of 10%. Which of the following is the correct present value (PV) of the company's total free cash flows using the FCFF model?