(2 points) On 12-31-17 Acme entered into an agreement that required Acme to pay someone $100,000 on 12-31-30. Assume the appropriate market rate of interest for Acme was 4%.

As of 12-31-17, what was the present value of Acmes obligation?

As of 12-31-24, what was the present value of Acmes obligation?

As of 12-31-27, what was the present value of Acmes obligation?

(1 point) On 12-31-13 Austin entered into an agreement that required Austin to pay a supplier $600 every year on 12-31 until 2029. The agreement required Austin to make the first annual payment on 12-31-14. Assume the market rate of interest for Austin is 11%. As of 12-31-13 what was the present value of Austins obligation?