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You are valuing a firm that is expected to earn cash flows that grow at 10% for the first five years and at 5% in

You are valuing a firm that is expected to earn cash flows that grow at 10% for the first five years and at 5% in perpetuity thereafter. The forecasted cash flow next period is $100m (which includes the 10% growth) and you estimate a discount rate of 11%. What is the present value of these cash flows?

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