$20.$"Consider a firm that will generate cash flows of $$1$M for each of the next $5$ years. After that, the cash flows will grow at $4\%$ per year forever. What is the value of the firm if the cost of capital is $14\%?"$

$$13\mathrm{.}98$M

$$12\mathrm{.}45$M

$-$$$1\mathrm{.}77$M

$$8\mathrm{.}83$M

$$19\mathrm{.}79$M

$21.$ Karnak Inc.$\text{'}$s net income for the year was $$22$M$.$ Its interest expense was $$10$M and the depreciation was $$4$M$.$ Find the operating cash flow if the tax rate is $30\%.$

$$48\mathrm{.}1$M

$$33$M

$$42\mathrm{.}5$M

$$39\mathrm{.}6$M

$$44\mathrm{.}7$M