Problem 5. [4 pts] Given his taxable income, the applicable federal tax rate of Richard is 33%. If he can earns 7.8% annual on his investments in tax-exempt RRSP account. What will be the value of a one-time 12,000 investment in 10 years? Let us assume that the 7.8% annual return is taxable rather than tax-deferred and the taxes are paid annually. What will be his after tax-value of his 12,000 investment after 10 years