a) You have just turned 40 years old, and now you must decide how much money to put into your retirement plan. You decide that you will plan to work until you turn 70 and live to 90. The plan works as follows: every pound in the plan earns 5% per year. You cannot make withdrawals until you retire on your 70th birthday. After that point, you can make withdrawals as you see fit. You estimate that to live comfortably in retirement, you will need 60,000 per year starting at the end of the first year of retirement and ending on your 90th birthday. Assume that your starting salary is 80,000 per year and it will grow 4% per year until you retire. What percentage of your income do you need to contribute to the plan every year to fund the retirement income? (12 marks) b) Discuss the advantages and disadvantages of the following investment appraisal techniques: Net Present Value and Internal Rate of Return. (13 marks)