A financial asset has just paid a cash flow of $$2\mathrm{.}18$ million. The cash flow is expected to grow by $3\mathrm{.}68\%$ per year for $25$ years. After that the cash flows will stay constant in perpetuity. The required rate of return on the asset is $14\%.$ What should the price of the asset be today?

Answers:

$$21\mathrm{.}90$ million

$$20\mathrm{.}60$ million

$$19\mathrm{.}86$ million

$$21\mathrm{.}31$ million