1. An asset is projected to generate 5 annual cash flows of $7,000 starting 7 years from today and a final one-time cash flow of $15,000 in 29 years from today. If the appropriate discount rate is 5.6%, how much is this asset worth today? Round to the nearest dollar.

2. Consider a company that is projected to generate revenues of $285 million next year. Analysts expect revenues to grow at a 6.0% annual rate for the following two years (until the end of year 3) and then at a stable rate of 2.8% in perpetuity. If the company is expected to have a gross margin of 75%, operating margin of 56%, net margin of 25%, tax rate of 18.1%, and reinvestment rate of 43%, what is its expected free cash flows in four years from today? Answer in millions, rounded to one decimal place (e.g., $2,315,612 = 2.3).