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2.55 HGT Oil expects receipts from a fracked well to decline according to an arithmetic...

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2.55 HGT Oil expects receipts from a fracked well to decline according to an arithmetic gradient of $50,000 per year. If this year's receipts are expected to be $280,000 (i.e., end of year 1) and the company expects the useful life of the well to be 5 years, (a) what is the amount of the cash flow in year 3 , and (b) what is the equivalent uniform annual worth in years 1 through 5 of the income from the well at an interest rate of 12% per year

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