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 $46,000 today and another $46,000 in three years. Calculate the total cost of the land today, assuming a discount rate of (a) 3%, (b) 5%, or (c) 7%. Note: Use tables, Excel, or a financial calculator. Do not round your intermediate values. Round your answers to 2 decimal places. (FV of \$1, PV of \$1, FVA of \$1, and PVA of \$1) You believe you have discovered a new medical device. You anticipate it will take additional time to get the device fully operational, run clinical trials, obtain FDA approval, and sell to a buyer for $580,000. Assume a discount rate of 4% compounded annually. What is the value today of discovering the medical device, assuming you sell it for $580,000 in (a) two years, (b) three years, or (c) four years? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of \$1, PV of \$1, FVA of \$1, and PVA of \$1) You are saving for a new car. You place $12,800 into an investment account today. How much will you have after four years if the account earns (a) 3\%, (b) 5%, or (c) 7% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of \$1, PV of \$1, FVA of \$1, and $ You have been issued a patent giving you exclusive rights to sell a new type of software. You believe the patent will produce sales of $169,000 each year as long as the software remains in demand. Assume a discount rate of 7% compounded annually. What is the value today of having the patent, assuming sales last for (a) three years, (b) four years, or (c) five years? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of \$1, PV of \$1, FVA of \$1, and \$1)