3. A financial asset whose required rate of return is 12% promises the following series of future cash flows: CF = $1,250; CF = $2,360; CF; = $4,500; CF. = $2,500. Assume that at the end of year four you sell the asset for $25,000. How much would you be willing to pay to acquire the asset today? 4. An investment opportunity has just made a payoff of $1,250. The payoff is expected to grow by 4.6% per year indefinitely. The required rate of return on the asset is 14% per year. Calculate the value of the asset today