2. Exercise Two: New York Life offers you a constant growth annuity with a coupon of $25,000 at the end of the first year. The instrument has a duration of 15 years, and coupons are received on a quarterly basis. (a) If the market rate is 4.25%, and the growth rate is 1%, what is the present value of this annuity? (b) If MetLife is offering you the same annuity for $1,171,189.59, is this a "good" deal or not