28. Estimate a ventures terminal value based on the following information: current years net income = $20,000; next years expected cash flow = $26,000; constant future growth rate = 9%; and venture investors required rate of return = 20%.

a.236,363

b.156,840

c.285,714

d.200,00

Estimate a ventures required rate of return based on the following information: terminal value = $400,000; current years net income = $20,000; next years expected cash flow = $24,000; and a constant growth rate = 7%.

a.10%

b.11%

c.9%

d.12%

e.13%