3. Present Values. You can buy property today for $3 million and sell it in 5 years for $4 million. (You earn no rental income on the property.) a. If the interest rate is 7%, what is the present value of the sales price? b. Is the property investment attractive to you? C. Would your answer to part (b) change if you also could earn $200,000 per-year rent on the property? The rent is paid at the end of each year