1. An insurance company has offered you a 20 -year annuity of $48,000 per year with the first payment one year from today. If you require a 9% return, how much are you willing to pay today? 2. The lease on a new office requires an immediate payment of $24,000 today plus $24,000 per year at the end of each of the next 10 years. At a discount rate of 14%. what is the present value of all the lease payments? 3. What is the present value of a 5-period annuity of $1,000 per year, with the first $1,000 happening one year from today and a discount rate of 10.00% ? 4. How much would you be willing to pay today to get two annuities? The first is a 5 -year annuity of $1,000 per year with the first payment 8 years from today. The second is a 10 -year annuity of $500 per year with the first payment 10 years from today. You require an 8% retum on your investment. How much are you willing to pay