Q 3.32. Your firm just finished the year, in which it had cash earnings of $400. You forecast your firm to have a quick growth phase from year 0 to year 5, in which it grows at a rate of 40% per annum. Your firm's growth then slows down to 20% per annum be- tween year 5 to year 10. Finally, beginning in year 11, you expect the firm to settle into its long-term annual growth rate of 2%. You also expect your cost of capi- tal to be 15% over the first 5 years, then 10% over the next 5 years, and 8% thereafter. What do you think your firm is worth today? (Advice: Use a computer spreadsheet program.)