14. Present Value of Annuity. You are entering into a contract that will provide you with an income of $185,000 each year for the next 60 years. If the annual interest rate is 7 percent, what is the present value of that stream of payments (or how much of a deposit do you need to get that payment amount per year)?? STORY (very similar to what was shown in class): YOU and your BEST FRIEND just graduated from college. You both went to the same college and majored in the same field. You both started working at age 22 in the same workplace. Each of you decided upon a different course of action for your respective retirement plans. Assuming each plan eamed 10% and both of you decided to retire at age 62 , calculate the earnings each plan generated