Suppose you'll have an annual nominal income of $35,000 for each of the next three years, and the Inflation rate is 5 percent per year. Hint Present value = Future volue/1 + Growth in prices)!.o.g. The present value of next year's Income = Next year's income/(1+ Growth In prices) Instructions: Enter your responses rounded to a whole dollar a. Find the real value of your $35,000 salary for each of the next three years Year 1:$ Year 2:$ Year 3: $ b. If you have a COLA in your contract, what is the real value of your salary for each year? Year 1: $ Year 2:$ Year 3: $