Answer the following questions. Assume the risk$-$free interest rate is $5\%$ and the average return on the market index is $9\%.$

a$.$ What is the net present value of the following investment of $1,000?$ The beta of the investment is $1\mathrm{.}2.$ The future cash flow is $200$ annually, starting in year $1$ and ending in year $15.$

b$.$ What is the break$-$even point of the following investment of $1,000($the break$-$even point is the annual cash flow that makes it a zero NPV investment$)?$ The beta of the investment is $1\mathrm{.}5.$ The future cash flow is x$,$ starting in year $1$ and ending in year $15.$