Calculate the present value of a growing annuity given the following information: current cash flows: $220,000; cash flow growth rate = 5%; timeframe = 55 years; required rate of return = 12%.
A) $3,252,545
B) $3,152,545
C) $3,052,545
D) $2,952,545
E) $2,852,545
Correct Answer:
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