3. In year 1 your new business earns $25,000 in cash flow to shareholders. In year 2 your business yields $32,000 in cash flow to shareholders. The money comes in at the end of each year. The firm's third year realizes cash flow 5% more than year 2. If the cost of capital of your business is 10%, and if the company reaches long-term growth by year 3 (at 5%), what is the present value of this business? 4. Choose the option having the Highest Net Present Value: a. $400 to be received in exactly 1 year, discounted at 10%, b. $400 to be received in exactly 2 years, discounted at 5%. c. $400 to be received in exactly 3 years, discounted at 2%