You expect a project's post-tax incremental cash flows to start at $4,000 next year (t=1) and grow by 4% per year until time 11. Beginning after time 11, you expect cash flows to grow at 3% in perpetuity. Assuming an opportunity cost of capital of 12% what is the value today (at t=0) of the after-tax horizon value at time 10 (i.e., the present value of cash flows arriving after t=10)? $20,577 $23,836 $22,486 $21,182