2) You are running a hot internet company; Analyst predict that its earnings will grow at 20% per year for the next 3 years. After that, as competition increases, earnings growth is expected to slow to 10% per year and continue at that level forever. Your company has just announced earnings of $2 million. What is the present value of all future earnings if the interest rate is 15%? (Assume all cash flows occur at the end of the year)