A projects annual (operating) cash flows for the next five years are $1.2 million, $1.4 million, $1.7 million, $2 million, and $2.5 million. Assuming a discount rate of 15% and a terminal growth rate of 4%, answer the following questions. a. What is the terminal value for assessing the cash fl ows aft er the fifth year? b. What is the total value of the cash fl ows of the fi rm? c. What proportion of the total cash flow value depends on the terminal value?