4) (8 marks) You sold a business and you are going to receive the inflows shown below as part of the deal for the coming 14 years. If you are going to invest it in XYZ bank which offer you 8% compounded daily, what is the equivalent present value and future value of these cash flows?

Year Cash Flows (in $)

0 800

1 300

2 200

3 400 .

4 400

5 0

6 0 .

7 200

8 200 .

9 300

10 300 .

11 300

12 500

13 500 .

14 500

Please give detail of the solution way with formulas or calculator keys, not excel way. Thanks!