18. What is the future value of a stream of receipts of $500 each to be received at the beginning of the next three years, if the discount rate is 8%, compounded annually? a. $1623.20 b. $1753.06 c. $1288.55 d. $1391.63 19. What is the present value of a stream of a future stream of $500 payments each to be made at the end of the next three years, if the discount rate is 8%, compounded annually? a. $1623.20 b. $1753.06 c. $1288.55 d. $1391.63