0. What is the amount of the annulty purchase required if you wish to receive a fixed payment of $300.000 for 25 years? Assume that the annulty will eam 12 percent per yeat b. Calculate the annual cash flows (annuity payments) from a fixed-payment annuity if the present value of the 25 -year annuity is $1 milion and the annuity eams a guaranteed annual return of 12 percent. The payments are to begin at the end of the current year. c. Calculate the annual cash flows (annuity payments) from a fixed-payment annuity if the present value of the 25 -year annuity is $1 milition and the annuity eams a guaranteed annual retum of 12 percent. The payments are to begin at the end of six years. (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.9., 3216))