No. of Recommendations: 1
Jordan,
Start with year zero's earnings of 203. For each year:
[ 203 * (1 + .07)^n ] / (1 + .10)^n
where "n" is year 1,2,3,4,5.
The first part of the formula is the future value at 7% growth, and the second part discounts it back to the present at 10%.
It adds up to 935.
-joe