Valuation of ABC Corporation using FCFF

ABC Corporation is a mature company with a stable revenue stream and predictable growth patterns. The firm has consistently generated free cash flows (FCFs) over the past five years, and management anticipates the company will maintain its current growth rate of 5% annually. The company has a WACC (weighted average cost of capital) of 8%.

Given the forecasted FCF of $10 million for the upcoming year, which of the following statements correctly assesses the current value of ABC Corporation's equity based on a Free Cash Flow to Firm (FCFF) valuation approach?