Alcon Inc. is planning to invest in in-house developed mobile apps for eye care. They have forecasted that with the new mobile apps the following are the expected cash flows that will be generated:- This project will generate $10 million at end of Year 1 which will grow at a rate of 10% for next 3 years from Year 1 onwards (i.e.1-2,2-3,3-4 years). From Year 4 onwards, the growth rate in cash flows will stabilize to 3% per year till perpetuity. If the hurdle rate is 12% p.a. compounded continuously, what is the Present Value of the Cash Flows generated. 151