Suppose you’ll have an annual nominal income of $70,000 for each of the next three years, and the inflation rate is 5 percent per year. hint: present value = future value/(1 + growth in prices)t, e. g., the present value of next year's income = next year's income/(1 + growth in prices) instructions: enter your responses rounded to a whole dollar. a. find the real value of your $70,000 salary for each of the next three years. year 1: $ year 2: $ year 3: $ b. if you have a cola in your contract, what is the real value of your salary for each year? year 1: $ year 2: $ year 3: $