A financial company advertises on television that they will pay you $$60,000$ now in exchange for annual payments of $$10,000$ that you are expected to receive for a legal settlement over the next $12$ years. You estimate the time value of money at $13$ percent.

Calculate the present value of the annual payments. $($Exhibit $1-$A$,$ Exhibit $1-$B$,$ Exhibit $1-$C$,$ Exhibit $1-$D$)$ Note: Use appropriate factor$($s$)$ from the tables provided.

Would you accept this offer?