Two parts to this question, please answer both.

You work for a pharmaceutical company that has developed a new drug. The patent on the drug will last 17 years. You expect that the drug's profits will be $4 million in its first year and that this amount will grow at a rate of 4% per year for the next 17 years. Once the patent expires, other pharmaceutical companies will be able to produce the same drug and competition will likely drive profits to zero. What is the present value of the new drug if the interest rate is 11% per year? A rich aunt has promised you $6,000 one year from today. In addition, each year after that, she has promised you a payment on the anniversary of the last payment) that is 1% larger than the last payment. She will continue to show this generosity for 20 years, giving a total of 20 payments. If the interest rate is 6%, what is her promise worth today