A workshop designed to retrain workers 55 years of age and older who have lost their jobs is proposed. Suppose the workshop will increase the income of each participant by RM1,000 per 10 years.

a) Calculate the present value of the increased income per participant with each of the following discount rates: 0 percent, 1 percent, 3 percent, 5 percent, and 10 percent.

b) If the cost per participant is RM8,000 and all those costs are incurred in the first year, at what discount rates will the benefit-cost ratio of the project exceed 1?

pls do not do it in excel