A financial asset has just paid a cash flow of $$1\mathrm{.}82$ million. The cash flow is expected to stay constant for the next $20$ years. After that, the cash flows are expected to grow by $3\mathrm{.}52\%$ per year in perpetuity. The RRR on the asset is $12\mathrm{.}52\%.$ What is the value of the asset today?

Answers:

$$17\mathrm{.}11$ million

$$13\mathrm{.}16$ million

$$15\mathrm{.}14$ million

$$24\mathrm{.}66$ million