PepperMint Inc. is considering a project that will last three years. The incremental free cash flows (FCFs) for the project for year 1 , year 2 , and year 3 are $40 million, $80 million, and $80 million, respectively. The project also requires a capital expenditure of $50 million immediately (at year 0). The project has a similar risk level as most other projects for the company and the market is estimated to be 1.5. The research done by the CFO also suggests that the risk-free rate is 3% and the expected return on index is 9%. The NPV of this project is closest to: A. \$115.81 million B. \$106.46 million C. $115.81 million D. $90.04 million E. $116.89 million