$(3)$ NPV $(8$ pts and $7pts)$

Assume you will receive constant rental payments over a time period of $88$ years. For the first $44$ years, you will receive a rent of $$44$ at the beginning of each year. For the next $44$ years thereafter, you will receive $$44$ at the end of each year.

$($a$)$ Employing the equation for identical payments over a limited time period, show how you would alter this equation applied to this problem. Show the abstract equation using $R$ for rent and i for the discount rate. Only for $T,$ plug in the appropriate numbers.

$($b$)$ Now fill in the numbers and assume your discount rate is $2\mathrm{.}5\%.$ Calculate the resulting net present value of this income stream.