Linda Clark received $188,000 from her mother's estate. She placed the funds into the hands of a broker, who purchased the following securities on Linda's behalf: a. Common stock was purchased at a cost of $100,000. The stock paid no dividends, but it was sold for $190,000 at the end of three years. b. Preferred stock was purchased at its par value of $32,000. The stock paid a 4% dividend (based on par value) each year for three years. At the end of three years, the stock was sold for $21,000. c. Bonds were purchased at a cost of $56,000. The bonds paid annual interest of $2,500. After three years, the bonds were sold for $60,000 The securities were all sold at the end of three years so that Linda would have funds available to open a new business venture. The broker stated that the investments had earned more than a 16% return, and he gave Linda the following computations to support his statement: ($94,3403 years )$188,000=1673% Click here to view Exhibit 14B:1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using tables. Required: 1-a Using a 16% discount rate, compute the net present value of each of the three investments 1-b. On which investment(s) did Linda earn a 16% rate of return? 2 Considering all three investments together, did Linda earn a 16% rate of return? 3. Linda wants to use the $271,000 proceeds ($190,000+$21,000+$60,000=$271,000) from sale of the securities to open a retail store under a 8 year franchise contract. What minimum annual net cash inflow must the store generate for Linda to earn a 11% return over the 8 -year period