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Goldman Sachs Group has offered you an investment opportunity that will provide you with a 2 0 - year cash flow stream ( payment is

Goldman Sachs Group has offered you an investment opportunity that will provide you with a 20-year cash flow stream (payment is made at the end of every year). The cash flow stream is expected to grow by 7% per year, with the first year's cash flow expected to be 61,200. How much would you be willing to pay for this investment if you require a 22% rate of return? (HINT: You want to find out the PV of a finite growing annuity.)

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