Suppose you own a gas pipeline that will, net of maintenance and operating costs, produce $12 million at the end of the coming year. Unfortunately, the volume of oil shipped is expected to decline in the future and this will translate into an annual 5% decline in net revenue per year. If the interest Jate is 10% per year, what is the present value of the pipeline's cash flows if the pipeline will be shut down after 30 years? What if the pipeline is operated into the indefinite future? . Your great aunt bought an annuity from NoirRock Investments Ltd. by paying $500,000 when she retired. In exchange, Noir Rock will pay her $50,000 per year until she dies. The going interest rate is 5% per year. How long must she live after her retirement to come out ahead? Define carefully your interpretation of 'come out ahead'. Make sure in incorporates a proper time value of money approach