Your company needs $400000$ dollars in three years time for renovations and can earn $8\%$ interest on investments.

$($a$)$ What is the present value of the renovations?

Present value $=$ dollars

$($b$)$ If your company deposits money continuously at a constant rate throughout the three$-$year period, at what rate should the money be deposited so that you have the $400000$ dollars when you need it$?$

Round your answers to $2$ decimal places.

Money deposited at a rate of dollars per year.