. A new chemical production facility that is under construction is expected to be in full commercial operation one year from now. Once in full operation, the facility will generate $84,000 cash profit daily over the plant's service life of 8 years. Determine the equivalent present worth of the future cash flows generated by the facility at the beginning of commercial operation, assuming

(a) 12% interest compounded daily, with the daily flows.

(b) 12% interest compounded continuously, with the daily flow series approximated by a uniform continuous cash flow function.

Also, compare the difference between part (a) discrete (daily) and part (b) continuous compounding.

(a) The equivalent present worth of the future cash flows, assuming 12% interest compounded daily, is $nothing million. (Round to three decimal places.)

(b) The equivalent present worth of the future cash flows, assuming 12% interest compounded continuously, is $nothing million.(Round to three decimal places.)

The absolute difference between part (a) discrete (daily) and part (b) continuous compounding is $nothing million. (Round to three decimal places.)