Calculate the present value of a growing annuity given the following information: annual cash flows = $120,000; cash flow growth rate = 2%; required rate of return = 9%; timeframe = 20 years.
A) $1,059,762
B) $1,259,762
C) $1,459,762
D) $1,659,762
E) $1,859,762
Correct Answer:
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