You are considering the sale of a business that you own. You project earnings (which will approximate cash flows) of $250,000 next year, which you believe will increase 5% each year for the next 10 years. Historically, you have reinvested 25% of your earnings in the business each year and remitted the remainder to yourself. You belief this level of reinvestment will be needed going forward. The estimated cost of capital will approximate 8%. Estimate the value of your business using the discounted cash flows method with a projection period of 10 years. Note, the cash flows in the terminal period are estimated to be $0 as the return on and cost of capital are expected to equal after the 10-year projection period. Ignore the need to apply a control premium or lack of marketability discount. You are considering the sale of a business that you own. You project earnings (which will approximate cash flows) of $250,000 next year, which you believe will increase 5% each year for the next 10 years. Historically, you have reinvested 25% of your earnings in the business each year and remitted the remainder to yourself. You belief this level of reinvestment will be needed going forward. The estimated cost of capital will approximate 8%. Estimate the value of your business using the discounted cash flows method with a projection period of 10 years. Note, the cash flows in the terminal period are estimated to be $0 as the return on and cost of capital are expected to equal after the 10-year projection period. Ignore the need to apply a control premium or lack of marketability discount