This question is about the normalized compounded terminal value criterion (NCTV) I I Define the approximation to NCTV as AppTV(B) = _ B.(1+r)]-1 + _(1 -c)B.(1 + p)7-1 where E1 CE 0, 1 is the fraction of the benefits consumed as they occur and (1 - c) is invested at a rate p. a. What is the expression for AppTV(B) when the initial outlay K is raised entirely by taxation ? b. What is the expression for AppTV(B) when the initial outlay K is raised entirely through borrowing c.If a public project is undertaken to produce a collective good only find the exact terminal value of the stream of benefits { B+}-1- d. When all benefits {Boys are cash returns find the exact terminal value of the stream of returns