a. What is the amount of the annuity purchase required if you wish to receive a fixed payment of $240,000 for 20 years? Assume that the annuity will earn 10 percent per year b. Calculate the annual cash flows (annuity payments) from a fixed-payment annuity if the present value of the 20-year annuity is $1.4 million and the annuity earns a guaranteed annual return of 10 percent. The payments are to begin at the end of the current year. c. Calculate the annual cash flows (annuity payments) from a fixed-payment annuity if the present value of the 20-year annuity is $1.4 million and the annuity earns a guaranteed annual return of 10 percent. The payments are to begin at the end of six years (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Answer is complete but not entirely correct. Present value Annual cash flows Annual cash flows $ 2,043,255,29 $ 149,49407 $ 149,494.07