4. You have the opportunity to invest in Gopher Gardens, a residential high-rise real estate property in downtown Minneapolis. You expect Gopher Gardens to generate $4.5M in rent one year from now and for rent to increase at 8% per year for the following four years. Five years from now, you believe you will be able to sell the property for $30 million. Assume the interest rate is 6% per year.\ \ Please round your answer to two decimal places, in millions of dollars. (e.g. 12.34)\ 4b. What is the present value of the $4.5 million rent payments that will be generated by this property?\ 4c. How much should you be willing to pay today for Gopher Gardens?\ \ (Hint: The fair value of an asset should be the present value of all future cash flows generated by an asset.)\ 4d. If you can buy the property for $43 million, what is the NPV of this opportunity?