You have just received a windfall from an investment you made in a friend's business. He will be paying you $48,830 at the end of this year, $97,660 at the end of the following year, and $146,490 at the end of the year after that (three years from today). The interest rate is 11.4% 1per year.

a. What is the present value of your windfall?

b. What is the future value of your windfall in three years (on the date of the last payment)?