A company is in a high growth phase and is expected to grow its cash flows at 8 per cent per annum for six years from the present ₹10 million per annum. After that, the company reaches a mature phase and is expected to grow at 3 per cent in perpetuity.

a. What is the value of the company?

b. What if the high growth phase lasts for 10 years?

c. What if the perpetuity growth is 4 per cent per annum?