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a. What is the present value of a 3 -year annuity of $140 if the discount rate is 5%? Note: Do not round intermediate calculations.

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a. What is the present value of a 3 -year annuity of $140 if the discount rate is 5%? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. What is the present value of the annuity in (a) if you have to wait 2 years instead of 1 year for the first payment? Note: Do not round intermediate calculations. Round your final answer to 2 decimal places

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