The interest rate is 10%.

a.	What is the PV of an asset that pays $1.9 a year in perpetuity?

Present value

$

b.	The value of an asset that appreciates at 10% per annum approximately doubles in nine years. What is the approximate PV of an asset that pays $1.9 a year in perpetuity beginning in year 10? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Present value

$

c.	What is the approximate PV of an asset that pays $1.9 a year for each of the next nine years? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Present value

$

d.	A piece of land produces an income that grows by 6% per annum. If the first year