3. Cash flow at year 0 is 1000. Cash flows grow at 10% from years 1 to year 5, then grow at 3% starting from year 6 to infinity. The discount rate is 8%. What is the present value at year 0 of cash flows from years 1 to 5? What is the present value at year 0 of cash flows from year 6 to infinity?What is the present value at year 0 of all future cash flows?

4.Cash flow at year 0 is 1000. Cash flows grow at 10% from years 1 to year 5, then grow at 7% from years 6 to 11, then grow at 3% from year 12 to infinity. The discount rate is 8%.What is the present value at year 0 of cash flows from years 1 to 5? What is the present value at year 0 of cash flows from years 6 to 11?What is the present value at year 0 of cash flows from year 12 to infinity?What is the present value at year 0 of all future cash flows?