Problem 5-11 Present Values (LO2) You can buy property today for $2.3 million and sell it in 6 years for $3.3 million. (You earn no rental income on the property.) a. If the interest rate is 9%, what is the present value of the sales price? (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places.) Present value million b. Is the property investment attractive to you? Yes c-1. What is the present value of the future cash flows, if you also could earn $130,000 per year rent on the property? The rent is paid at the end of each year. (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places.) Present value million c-2. Is the property investment attractive to you now? Yes O No Problem 5-4 Future Values (L01) Compute the future value of a $150 cash flow for the following combinations of rates and times. (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. r= 7%; t = 10 years Future value b. r= 7%; t= 20 years Future value c. r= 3%; t = 10 years Future value d. r= 3%; t= 20 years Future value