Question: For the first 10 years, a new enterprise is expected to generate a cash flow is $1000 every year. Then, starting from the 11 th

For the first 10 years, a new enterprise is expected to generate a cash flow is $1000 every year. Then, starting from the 11 ^th year, the cash flow increases in 3% every year. All payments are made at the end of the year and continue forever. The annual interest rate is 4% for the first 10 years and then 7%. What is the present value of this enterprise?

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