Presently your company has a 4 storey residential building which is converted into co-living spaces.. This 4 storey residential building is let out at a fixed net income of $50,000 per month for 5 years and the fixed net income is paid in advance quarterly. Your company has projected that after 5 years, this building needs $800,000 for major repairs. The interest rate is 5% per annum and the sinking fund rate is 3%. You have been asked to assist your supervisor in his project to calculate the following; (a) The present value of the periodic fixed net income (b) The quarterly amount (sinking fund) to be set aside for the major repairs at the end of the 5 years