5. How much would you pay today for an investment that pro vides $1,000 at the end of the first year if your required rate of return is 10 percent? Now compute how much you would pay at 8 percent and 12 percent rates of return. 6. Your grandmother gives you $10,000 to be invested in one of three opportunities: real estate, regular bonds, or zero cou pon bonds. If you invest the entire $10,000 in one of these opportunities with the expected cash flows shown below, which investment offers the highest NPV? Assume for sim plicity that an 11 percent discount rate is appropriate for all three investments. Investment Year 1 Year 2 Year 3 Year 4 Year 5 Real estate $1,300 $1,300 $1,300 $1,300 $ 9,000 Bond 1,000 1,000 1,000 1,000 11,000 Zero coupon 0 0 0 0 18,000