Cane has an investment account (Account #1) with a current balance of $175,000. Cane plans to contribute approximately $1,275 to the account each month until he retires. The account has averaged a return of about 7.5% (APR), compounded monthly, and that is expected to continue. Cane also has an IRA (Account #2). It has a current balance of $42,800. He plans to contribute an additional $4,000 to that account each year until he retires. The IRA has averaged a return of about 5.00% annually, compounded annually, and this is also expected to continue. Cane plans to retire in about 25 years. (a) What will be the balance in Account #1 when Cane retires? (1.5 points) (b) What will be the balance in the IRA (Account #2) when Cane retires? (1.5 points) (c) How much will Cane have in total when he retires if he combines the balances of both accounts into one (1) account? (1 point) A firm has the following income statement and balance sheet for the current year. Use the following assumptions: Sales will increase by 8% in the projected year. Operating Costs, Cash, Other CA, NFA, and A/P & Accruals all change as a percentage of sales-the same ratio/percentage as the current year. The firm pays out 60% of their earnings as dividends. (a) (1.5 points) Use the AFN Equation to forecast the amount of additional funds needed. Assume that the dividend payout ratio and net profit margin remain constant