Please do 7-23b and 7-44 Tables. Please do both questions and show all formulas. Thanks

7-23b You have just been elected into the "Society of Honorable Engineers." First-year dues are waived in honor of your election. Thus, your first-payment of $200 is due at the end of the year, and annual dues are expected to increase 3% annually. After 40 years of paying dues you become a life member and pay no more dues. Instead of paying annual dues, however, you can pay a one-time $2000 life membership fee. (b)What is the rate of return? Should you invest in the lifetime membership if your MARR=12%? 40 Lifetime Annual Dues Dues CF CF 7-23 Time 0 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 IRR of Lifetime Membership = 7-44 Some laboratory equipment sells for $85,000. The manufacturer offers financing at 6% with annual payments for 5 years for up to $65,000 of the cost. The salesman is willing to cut the price by 10% if you pay cash. What is the rate of return for paying cash? Should you pay cash if MARR=12%? 7-44 10% Cash Financed Discount at 8% A in Cash Flow Cash Flow Cash Flow Time NO 3 4 IRR of Cash Discount