Bay Properties is considering starting a commercial real estate project. It has prepared the following three$-$year forecast of cash flows for this project:Year $0$ Year $1$ Year $2$ Year $3$Cash Flows $-185,00012,00099,000240,000$Assume the discount rate for this division is $14\%.$a$)$ What is the present value of this project?b$)$ Assume cash flows after year $3$ will grow at $3\%$ per year, forever. What is the present value ofthe project?