a. A piece of land produces an income that grows by 5% per annum, forever. If this year's income is $10,000, what is the value of the land? b. You must pay $12,000 a year in school fees at the end of each of the next six years. How much do you need to set aside today to cover these bills? c. A bank loan requires you to pay $70,000 at the end of each of the next eight years. What is the present value of these payments