Gore Global is considering the two mutually exclusive projects below. The cash flows from the projects are summarized below. Year ManBear Pig Project Cash Flying Car Cash Flow Flow -$100,000 -$200,000 1 25,000 50,000 2 25,000 50,000 50,000 80,000 50,000 100,000 0 2 3 What is ManBearPig's net present value (NPV) at a 12% cost of capital? As $7,123 O $13,541 O $9,616 0 $4,997 O $11,489 Agarwal Technologies was founded 10 years ago. It has been profitable for the last 5 years, but it has needed all of its earnings to support growth and thus has never paid a dividend. Management has indicated that it plans to pay a $0.25 dividend 3 years from today, then to increase it at a relatively rapid rate for 2 years, and then to increase it at a constant rate of 8.00% thereafter. Management's forecast of the future dividend stream, along with the forecasted growth rates, is shown below. Assuming a required return of 11.00%, what is your estimate of the stock's current value? Use the dividend values provided in the table below for your calculations. Do not round your intermediate calculations. Year 0 1 2 3 4 5 6 Growth rate NA NA NA NA 80.00% 40.00% 8.00% Dividends $0.000 $0.000 $0.000 $0.250 $0.450 $0.630 $0.680