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Let and rRBT=0.04 and f=0.04. Determine a 35 year constant nominal before-tax bid amount that would have the same (after-tax) present value as a 35 year constant real before-tax income stream of $80 per year. Your tax bracket is 25%. Assume that both of these income streams would be fully taxable when you receive them. However, for your opportunity costs, assume that only the real component of your nominally accruing "income" is taxed each year.

Please do not use excel, thank you!