8. 4.46 Assume that 25 years ago your dad invested $200,000, plus

$25,000 in years 2 through 5, and $40,000 per year from year 6 until now. At a very good interest rate of 12% per year, determine

(a) the present worth in year 0 (i.e., 25 years ago), and

(b) the annual amount that can be withdrawn forever starting next year (year 26), if no additional investments are made.