Current Attempt in Progress

Your answer is incorrect.

Elizabeth Brown wants to open a restaurant in a historic building. The property can be leased for $20$ years but not purchased. She

believes her restaurant can generate a net cash flow of $$79,000$ the first year and expects an annual growth rate of $7.$percent

thereafter. If a discount rate of $18$ percent is used to evaluate this business, what is the present value of the cash flows that it will

generate? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}52145$ and final answer to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$