this is very complicated to me 1- that 50 K stipend will be evenly paid, so shouldnt it be taken off of the asset base? or even if not, is there a criterion to determine if a cash outflow should be thrown into return, or taken off the asset base? 2- first was didnt know what to do for return calculation, until I saw “calculate return for the coming year”. If it didnt say coming year, how would we calculate a return from that mess? 3- Inflation. All expenses for coming year are given in terms of coming year. ans since we are calculating the return for coming year why do we add inflation? the book’s answer also contradicts itself, as it correctly adds 5% inflation to medical expenses initially, but then why add 2% inflation on top of it? 4- liquidity: the answer again calculates it as return for the coming year. so should the liquidity section include only coming year’s liquidity needs??