1. Summer brook hospital is planning to create an endowment, which will pay $500,000 per year forever. the first payment will not be received until four years from today. how much money needs to be set aside today if the effective annual rate of return is 8%? (using calculator)

2. Given the following information: current assets = $400, fixed assets = $500, accounts payable = $100, notes payable = $45, long-term debt = $455, equity = $300, sales = $450, costs = $400, tax rate = 34%. suppose that current assets, costs, and accounts payable maintain a constant ratio to sales. If the firm is producing 80% capacity, what is the total external financing needed if sales increase 25%? assume the firm pays no dividends. (using a calculator).