Income $2,966,199 $2,152,291 $0 $0 Tax Rate 42% 42% 42% 42% Tax $1,245,804 $903,962 $0 $0 Net Income $1,720,395 $1,248,329 $0 $0 Horizon Value (Gordon Growth Model)' Days Present Value Factors Present Value 259 624 989 1,354 0.9346 0.8496 0.7724 0.7022 $1.607.891 $1,060,632 $0