Question: you are running a hot internet company . Analysts predict that its earnings will grow at 40% per year for the next five years. After

you are running a hot internet company . Analysts predict that its earnings will grow at 40% per year for the next five years. After That, as competition increases, earnings growth is expected to slow to 5% per year and continue at that level forever. your company just announced earnings of 4 million$. What is the present value of all future earnings if the interest rate is 9%?

The present value is --- Millions

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