1. KB owns 41% shares of a firm, which has initial endowment of $74,655. The firm has identified three non-divisible feasible projects: Project-X requires $25,457 investment now to generate $34,459 next year; Project-Y requires $22,861 investment now to generate $28,048 next year; and Project-Z requires $52,953 investment now to generate $60,127 next year. The firm invests in projects reasonably to maximise wealth. Average expected rate of return from market is 18%. If KB wants to consume 40% of current dividend now, how much fund would be available to KB in next year?

2. KD is considering an investment in venture capital that will return nothing in the first two years, $27,972 in the third year and $8,346 a year in perpetuity starting from the fifth year. What is the present value of the investment, given an interest rate of 6.1% per annum?

3. DB, who is 33 years old, decides to use his savings of $29,372 towards his retirement. He places the money in a bank which promises a return of 5.6% per year, compounded monthly, until his planned retirement in 23 years. How much will he have at retirement from this plan?