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The management of Glamhope, a privately-owned, for-profit student dormitory adjacent to a large public university, wants to estimate the present value of its future rents.

The management of Glamhope, a privately-owned, for-profit student dormitory adjacent to a large public university, wants to estimate the present value of its future rents.

1. What is the present value today (year 0) of the rents to be received in years 1 through 5, in millions of dollars? (Enter $1,000,000 or $1m as 1. Go to 4 decimal places.) 2. Five years from today (at year 5), what will be the present value of rents to be received in years 6 and beyond, in millions of dollars? (Enter $1,000,000 or $1m as 1. Go to 4 decimal places.) 3. What is the present value today (year 0) of all future rents to be received by Glamhope, in millions of dollars? (Enter $1,000,000 or $1m as 1. Go to 4 decimal places.)

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