you are running a hot internet company. Analysts predict that its earnings will grow at 30% per year for the next five years. after that, as competition increases, esrnings hrowth is expected to slow to 4% per year and continue at that level forever. your company has just announced earnings of $5million. what is the present value of all future earnings if the interest rate is 7%? (assume all cash flows occur at the end of the year)

the present value is $_____million ( round to two decimals)

WORM pum