Show all work. Label and clearly explain your answer. This is very important. $1)$ You must explain how you arrived at your

answer in order to get full credit. $2)$ If you do show your work, and your answer is wrong, you can still earn a substantial

amount of credit depending on how serious the error is$.3)$ If your answer is wrong, and you don't show your work, you will

get a zero.

a$)$ Calculate the PV of a perpetuity with a cash flow of $$111\mathrm{.}11$ received every year.

The first cash flow occurs in year $1.$ The interest rate is $11\%$ simple annual rate.

b$)$ Calculate the PV of a perpetuity with a cash flow of $$222\mathrm{.}22$ received every

second year. The first cash flow occurs in year $2.$ The interest rate is $11\%$ simple

annual rate.

c$)$ Calculate the PV of a perpetuity with a cash flow of $$333\mathrm{.}33$ received every third

year. The first cash flow occurs in year $3.$ The interest rate is $11\%$ simple annual

rate.