Perpetuities You are evaluating an inwostment that will pay $70 in 1 year, and it will contirua to make payments at annual intervais thereafter, but the payments will grow by 5% forever. a. What is the prosent value of the first $70 payment if the discount rate is 109 ? b. How much cash will ths investment pay 100 yoars from now? What is the present value of the 100 th payment? Again uso a 10 of discount ra'o c. What is the present value of the entre growing stream of perpetual cash flows? d. Explain winy the answors to parts a and b holp to explain why an infinise stream of growing cash flows has a finde present value. a. Tha presant value of the first $70 payment is (Round to the nestest cent)