The Bruin Stock Fund sells Class A shares that have a front-end load of 4.75 percent, a 12b-1 fee of .43 percent, and other fees of 1.33 percent. There are also Class B shares with a 5 percent CDSC that declines 1 percent per year, a 12b-1 fee of 2 percent, and other fees of 1.33 percent. Assume the portfolio return is 12 percent per year. a. What is the value of $1 invested in each share class if your investment horizon is 3 years?
b. What if your investment horizon is 20 years?

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.)