You have entered into an agreement for the purchase of land. The agreement specifies that you will take ownership of the land immediately. You have agreed to pay $44,000 today and another $44,000 in three years. Calculate the total cost of the land today, assuming a discount rate of (a) 3\%, (b) 5\%, or (c) 7\%. (FV of \$1, PV of \$1, FVA of \$1, and PVA of \$1) (Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places.)