1. A rich donor gives a hospital $100,00 one year from today. Each year after that, the hospital will receive a payment 5% larger than the previous payment, with the last payment occurring in ten years' time. What is the present value (PV) of this donation, given that the interest rate is 9%?

2.

Consider the following balance sheet:

Luther Corporation Consolidated Balance Sheet December 31, 2009 and 2008 (in $ millions)
Assets	2009	2008		Liabilities and Stockholders' Equity	2009	2008
Current Assets				Current Liabilities
Cash	63.6	58.5		Accounts payable	87.6	73.5
Accounts receivable	55.5	39.6		Notes payable/ shortterm debt	10.5	9.6
Inventories	45.9	42.9		Current maturities of longterm debt	39.9	36.9
Other current assets	6.0	3.0		Other current liabilities	6.0	12.0
Total current assets	171.0	144.0		Total current liabilities	144.0	132.0
LongTerm Assets				LongTerm Liabilities
Land	66.6	62.1		Longterm debt	239.7	168.9
Buildings	109.5	91.5		Capital lease obligations
Equipment	119.1	99.6		Total Debt	239.7	168.9
Less accumulated depreciation	(56.1)	(52.5)		Deferred taxes	22.8	22.2
Net property, plant, and equipment	239.1	200.7		Other longterm liabilities
Goodwill	60.0			Total longterm liabilities	262.5	191.1
Other longterm assets	63.0	42.0		Total liabilities	406.5	323.1
Total longterm assets	362.1	242.7		Stockholders' Equity	126.6	63.6
Total Assets	533.1	386.7		Total liabilities and Stockholders' Equity	533.1	386.7

Luther Corporation's total sales for 2009 were $610.1, and gross profit was $109.0. Accounts payable days for 2009 is closest to:

A.

52.4

B.

63.8

C.

27.5

D.

5.71