20. Using the tables in Exhibits 26-3 and 26-4, determine the present value of the following cash flows, discounted at an annual rate of 15 percent for Ashley Industries , Inc. a. $16,000 to be received annually for 10 years b. $36,000 to be received annually for five years, with an additional $18,000 salvage value expected at the end of the fifth year . $75,000 to be received 20 years from today