Gyou’ve just joined the investment banking firm of dewey, cheatum, and howe. they’ve offered you two different salary arrangements. you can have $7,300 per month for the next three years, or you can have $6,000 per month for the next three years, along with a $32,500 signing bonus today. assume the interest rate is 8 percent compounded monthly. if you take the first option, $7,300 per month for three years, what is the present value?

Quick computing currently sells 12 million computer chips each year at a price of $19 per chip. it is about to introduce a new chip, and it forecasts annual sales of 22 million of these improved chips at a price of $24 each. however, demand for the old chip will decrease, and sales of the old chip are expected to fall to 6 million per year. the old chips cost $10 each to manufacture, and the new ones will cost $14 each. what is the proper cash flow to use to evaluate the present value of the introduction of the new chip? (enter your answer in millions.)