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Bay Properties is considering starting a commercial real estate division. It has prepared the following four-year forecast of free cash flows for this division: (Click

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Bay Properties is considering starting a commercial real estate division. It has prepared the following four-year forecast of free cash flows for this division: (Click on the following icon py in order to copy its contents into a spreadsheet.) Assume cash flows after year 4 will grow at 5% per year, forever. If the cost of capital for this division is 13%, what is the continuation value in year 4 for cash flows after year 4 ? What is the value today of this division? What is the continuation value in year 4 for cash flows after year 4 ? The continuation value is $ (Round to the nearest dollar.)

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