Question: An investment is worth ( $ X ) , has an expected return of 1 2 . 3 4 percent per year,

An investment is worth \(\$ X \), has an expected return of 12.34 percent per year, and is expected to produce annual cash flows forever. The first cash flow is expected to be \(\$ 6,240\) in 1 year and all subsequent cash flows are expected to increase annually by 4.72 percent. What is \( X \)?
Input instructions: Round your answer to the nearest dollar.
\$
An investment is worth \ ( \ $ X \ ) , has an

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