1. You are purchasing land with cash that has an asking price of $2,000. Your planning horizon is 15 years, your nominal discount rate (before taxes) is 9%. The tax rate is 20%, net returns per acre are $100, The value of the land is expected to grow at 5% (this includes inflation and real growth), the value of the net returns for land is expected to grow at 6% (this includes inflation and real growth). Find the NPV 2. Answer the same question but now assume that you are financing the purchase by putting $400 down and taking out a 30 year loan for $1600. The loan is amortized over 30 years. The loan has an interest rate of 7% (however, you still use the 9% as your discount rate)