Assuming that money is worth 8%, compute the present value of 

1. \($7,000\) received 15 years from today.

2. The right to inherit \($1,000,000\) 14 years from now.

3. The right to receive \($1,000\) at the end of each of the next six years.

4. The obligation to pay \($3,000\) at the end of each of the next 10 years.

5. The right to receive \($5,000\) at the end of the seventh, eighth, ninth, and tenth years from today.