Question 3: You inherit a perpetuity (a trust) from a rich uncle. This perpetuity will pay you $50,000 forever You will receive the first payment in exactly two years from now. Assuming the annual interest rate is 5% and will be 5% for the foreseeable future, answer the following questions: a. How much is the trust worth the year in which start collecting payments? b. How much is the trust worth today? c. A bank offers to exchange your trust for another stream of yearly payments that also lasts forever, but the first payment will occur one year rather than two years from today. The yearly payment that the bank offers you is 950,000 per year. Would you accept or reject the bank's offer? Why? (show your calculations)