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Business, 29.06.2021 23:30 speris1443

Shelton Enterprises is expecting tremendous growth from its newest boutique store. Next year the store is expected to bring in net cash flows of $675,000. The company expects its earnings to grow annually at a rate of 13 percent for the next 15 years. What is the present value of this growing annuity if the firm uses a discount rate of 18 percent on its investments? (Round to the nearest dollar.) A. $5,478,320
B. $6,448,519
C. $6,750,000
D. $7,115,449

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