a. b. Use the Present Value of $1 table to determine the present value of $1 received one year from now. Assume a 6% interest rate. Use the same table to find the present value of $1 received two years from now. Continue this process for a total of five years. (Click the icon to view the present value factor table.) (Click the icon to view the present value annuity factor table.) C. What is the total present value of the cash flows received over the five-year period? Could you characterize this stream of cash flows as an annuity? Why or why not? Use the Present Value of Annuity of $1 table to determine the present value of the same stream of cash flows. Compare your results to your answer to Part A. Explain your findings. ..... d. a. What is the total present value of the cash flows received over the five-year period? (Round all amounts to three decimal places.) Year Present value Year 1 Year 2 Year 3 Year 4 Year 5 Total present value - Reference Present Value of $1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 1% 0.990 0.980 0.971 0.961 0.951 20% 0.833 0.694 0.579 0.482 0.402 Period 6 0.942 Period 7 0.933 Period 8 0.923 Period 9 0.914 Period 10 0.905 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 0.980 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.961 0.943 0.925 0.907 0.890 0.857 0.826 0.797 0.769 0.743 0.718 0.942 0.915 0.889 0.864 0.840 0.794 0.751 0.712 0.675 0.641 0.609 0.924 0.888 0.855 0.823 0.792 0.735 0.683 0.636 0.592 0.552 0.516 0.906 0.863 0.822 0.784 0.747 0.681 0.621 0.567 0.519 0.476 0.437 0.888 0.837 0.790 0.746 0.705 0.630 0.564 0.507 0.456 0.410 0.370 0.871 0.813 0.760 0.711 0.665 0.583 0.513 0.452 0.400 0.354 0.314 0.853 0.789 0.731 0.677 0.6270.540 0.467 0.404 0.351 0.305 0.266 0.837 0.766 0.703 0.6450.592 0.500 0.424 0.361 0.308 0.263 0.225 0.820 0.744 0.676 0.614 0.558 0.463 0.386 0.322 0.270 0.227 0.191 0.8040.722 0.650 0.585 0.527 0.429 0.350 0.287 0.237 0.195 0.162 0.788 0.701 0.625 0.557 0.497 0.397 0.319 0.257 0.208 0.168 0.137 0.773 0.681 0.601 0.530 0.469 0.368 0.290 0.229 0.182 0.145 0.116 0.758 0.661 0.577 0.505 0.442 0.340 0.263 0.205 0.160 0.125 0.099 0.335 0.279 0.233 0.194 0.162 Period 110.896 Period 12 0.887 Period 13 0.879 Period 14 0.870 0.135 0.112 0.093 0.078 Reference Present Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% Period 1 0.990 0.980 0.971 0.9620.952 0.943 0.926 0.9090.893 0.877 0.862 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.647 1.605 Period 3 2.941 2.884 2.829 2.775 2.723 2.673 2.577 2.487 2.402 2.322 2.246 Period 4 3.902 3.808 3.717 3.630 3.546 3.465 3.312 3.1703.037 2.914 2.798 Period 5 4.853 4.713 4.580 4.452 4.329 4.2123.993 3.791 3.605 3.433 3.274 Period 6 5.795 5.601 5.417 5.2425.076 4.917 4.623 4.355 4.111 3.8893.685 Period 7 6.728 6.472 6.230 6.002 5.786 5.5825.206 4.868 4.564 4.288 4.039 Period 8 7.652 7.325 7.020 6.733 6.463 6.210 5.747 5.335 4.968 4.639 4.344 Period 9 8.566 8.1627.786 7.435 7.108 6.8026.247 5.759 5.328 4.9464.607 Period 10 9.471 8.983 8.530 8.111 7.7227.360 6.710 6.145 5.6505.216 4.833 18% 0.847 1.566 2.174 2.690 3.127 20% 0.833 1.528 2.106 2.589 2.991 3.498 3.326 3.812 3.605 4.078 3.837 4.303 4.031 4.494 4.192 Period 11 10.368 9.787 9.253 8.760 8.3067887 7.139 6.495 5.938 5.453 5.029 Period 12 11.255 10.575 9.9549.3858.863 8.384 7.536 6.814 6.1945.6605.197 Period 13 12. 134 11.348 10.635 9.986 9.394 8.853 7.904 7.103 6.424 5.842 5.342 Period 14 13.004 12.106 11.296 10.563 9.899 9.295 8.244 7.367 6.628 6.002 5.468 4.656 4.793 4.910 5.008 4.327 4.439 4.533 4.611