A loan of nominal amount $500,000 was issued bearing interest of 8% per annum payable quarterly in arrears. The loan principal will be repaid at $105% by 20 annual instalments, each of nominal amount $25,000, the first repayment being ten years after the issue date. An investor, liable to both income tax and capital gains tax, purchased the entire loan on the issue date at a price to obtain a net effective annual yield of 6%. Assume that capital losses cannot offset capital gains for tax purposes. Find the price paid, given that his rates of taxation for income and capital gains are: (a) 40% and 30% respectively (b) 20% and 30% respectively Do this question in both Excel and R.