Consider the following project.Costs:$100,000, at time t = 0. $45,000, at time t = 4. Income:Three payments of $10,000, each one year apart, with the first payment at time t = 1. Four payments of...

Consider the following project. Costs: $100,000, at time t = 0. $45,000, at time t = 4. Income: Three payments of $10,000, each one year apart, with the first payment at time t = 1. Four payments of $60,000, each paid every 4 years apart, with the first payment at time t = 4.5. Assuming that the project is financed by a loan which is subject to interest of 6% per annum (effective), and that interest is earned in an investment fund at 3% per annum (effective), determine the accumulated value of this project at time t = 20. You may assume that debt (the loan) is to repaid prior to money being invested in the investment fund. Give your answer to the nearest dollar. Show all working.