A financial company advertises on television that they will pay you $70,000 now in exchange for annual payments of $11,000 that you are expected to receive for a legal settlement over the next 10 years. You estimate the time value of money at 8 percent. (a) Calculate the present value of the annual payments. Use Exhibit 1-D. (Round time value factor to 3 decimal places and final answer to the nearest whole number.) Present value (b) Would you accept this offer? Yes No