Consider the follow stream of cash flows received at the end of the year.

Year Cash Flow

1 900

2 900

3 900

4 900

5 900

6 900

7 900

8 900

9 900

10 2,000

a. Determine the present value of the cash flows using a 5% discount rate. (Round to nearest dollar)

b. Determine the present value of the cash flows if $900 is distributed for 20 years. (Round to nearest dollar)

c. Determine the present value of the cash flows if $900 is distributed forever. (Round to nearest dollar)