1. A cash flow generating financial security whose required rate of return 10% is expected to have a konstant payment of $12,200 per year for 32 years, starting in year one. Calculate the value of the security today. 2. A 38-year maturity financial asset is expected to have a cash flow of $482 one year from today. The cash flow is expected to grow at a constant rate of 4.84% per year for its life. The required rate of return on the asset is 12%. What is the maximum price that an investor should be willing to pay for that asset today