A financial company that advertises on television will pay you $70,000 now for annual payments of $9,900 that you are expected to receive for a legal settlement over the next 9 years. Assume you estimate the time value of money at 11 percent.

Use the appropriate time value of money table [Exhibit 1-A,Exhibit 1-B,Exhibit 1-C, ORExhibit 1-D].

(a)What is the present value?

(Round your answer to the nearest whole number. Omit the comma, period, and "$" sign in your response.)

(b)Would you accept this offer?

[Enter "Yes" or "No"]