1) You are looking at an investment that will pay you $27,566 in year 2, $41,509 in year 4 and $43,936 in year 6. If your required return is 9.09%, what is the most you should pay for the investment? (In other words, how much is the project worth today?)

2) You are selling some furniture and your friend has offered to give you $475 in the one year and $916 in the 3 years. If the relevant return is 6.41%, what is today's value of your friends offer?