1. After receiving a reward for information leading to the arrest of a notorious criminal, you are considering investing it in an annuity that pays $5,000 at the end of each year for 15 years. You could earn 5% on your money in other investments with equal risk. What is the most you should pay for the annuity? (Round your answer to 2 decimal places.)

2. What is the PV of an annuity due with 8 payments of $3,000 at an interest rate of 6%? (Round your answer to 2 decimal places.)

3. What's the present value of a perpetuity that pays $250 per year if the appropriate interest rate is 5.22%? (Round your answer to 2 decimal places.)