Problem 3: (40 points) Consider the following cash flow. If the interest rate is 8% per year, answer the following questions Year Income, $ 9,000 1-6 700 7-11 900 a) What is the present worth of this cash flow? b) What is the value of a single flow in year 5 that is equivalent to the above cash flow? c) What is the equivalent of the cash flow in year 15? d) What would be the first value of an equivalent arithmetic cash flow to the above cash flow if the arithmetic flow starts in year 4 and it increases by $500 for 6 years