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Corona Cookies has a book value of equity of $13,000. Residual income one...

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Accounting

Corona Cookies has a book value of equity of $13,000.
Residual income one year from now is expected to be $700.
Residual income is expected to grow at 3.5% annually, forever.
If the correct required return is 16%,
What is the value of Corona according to the residual income model?
Round your answer to the nearest dollar (no decimal points)
Do not use the dollar sign.
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