Problem 1 (14 points) Susanne Meyer is 30 years of age and her after-tax salary next year will be S60,000. Susanne forecasts that her salary will increase at a steady rate of 5% per year until her retirement at age 60. She gets paid at the end of each year and her next salary payment is in exactly one year, and she will receive 30 salary payments before retiring. (a) If the discount rate is 8%, what is the present value of these future after-tax salary payments? Present value (5 points) (b) If Susanne saves 6% of her after-tax salary each year, what is the present value of these savings (using the same 8% discount rate)? Present value (5 points) (c) If Susanne invests the savings from part (b) at an interest rate of 8%, how much will she have saved when she retires exactly 30 years from now? Amount saved:(4 points)