You are considering a business that will return $22,000 at the end of each year for 15 years. In Year 7 you would pay a onetime fee of $45,000, and in Year 15 you would sell the business for $85,000.

a) Draw the cash flow diagram for this problem.

b) For an interest rate of 5.5%, how much should you pay for the business today? (You may use the NPV function in MS Excel.) Please show excel