Corona Cookies has a book value of equity of

$13,000

.\ Residual income one year from now is expected to be

$700

.\ Residual income is expected to grow at

3.5%

annually, forever.\ If the correct required return is

16%

,\ What is the value of Corona according to the residual income model?\ Round your answer to the nearest dollar (no decimal points)\ Do not use the dollar sign.

Corona Cookies has a book value of equity of $13,000. Residual income one year from now is expected to be $700. Residual income is expected to grow at 3.5% annually, forever. If the correct required return is 16%, What is the value of Corona according to the residual income model? Round your answer to the nearest dollar (no decimal points) Do not use the dollar sign