Valuation of companies can be done by forecasting a series of cash flows and then estimating a horizon value.

Your firm projects net cash flow in years 1 through 5 as follows:

Year 1	Year 2		Year 3	Year 4	Year 5
100 Million $	120 Million $		135 Million $	140 Million $	147 Million $

Assume that the company is expecting a growth rate of 6% starting year 5 and a discount rate of 12%; compute the PV of the company?

Show the details of all your calculations.