a. $9,500 to be received 20 years from today. b. $17,000 to be received annually for 10 years. c. $9,100 to be received annually for five years, with an additional $12,000 salvage value expected at the end of the fifth year. d. $30,000 to be received annually for the first three years, followed by $20,000 received annually for the next two years (total of five years in which cash is received). Using the tables in Exhibits 26-3 and 26-4, determine the present value of the above cash flows, discounted at an annual rate of 15 percent: