29. Estimate a venture's required rate of return based on the following information: terminal value = $400,000; current year's net income = $20,000; next year's expected cash flow = $25,000; and a constant growth rate = 7%.

a. 6%

b. 7%

c. 8%

d. 9%

e. 10% answer is 9% please show me extact work i keep getting 6%