Last year, a barber shop generated $100,000 in profit. Assume that the shop's profits grow at 5% per year and that cash flows are discounted at 10% per year. If profits are received at the end of each year, what is the present value of all the shop's future profits?

• $1,500,000
• $2,000,000
• $2,500,000
• $2,100,000
• $3,000,000