A $7-$year DCF model shows FCF of $$10,000$ for year $7.$ Assume a discount rate of $9\%$ and a growth rate of $3\mathrm{.}2\%.$

a$.$ Calculate the terminal value at the beginning of year $8.$

b$.$ Calculate the present value of the terminal value $($at time T$0).$

c$.$ Explain why the terminal value tends to be the largest component of a DCF model$$s value.