1. ( 3 points) A firm with $200 million in revenue in 2021 generated an operating margin of 30%, what does this tell you about the firm's expenses in 2021 ? Be as specific as possible! ( 4 points) Your friend Bob won the lottery. Nine months from today he will start receiving his first annual payments and these payments will continue forever. His first payment will be $100,000 and the following annual payments will grow at 2%/ year. Provide an accurate equation with all appropriate inputs to determine the present value of your friend's lottery winnings (assume the appropriate risk adjusted discount rate is 5%/ year)