At an annual effective interest rate of i>o, both of the following annuities have a present value, X: . . i) a 24-year annuity-immediate with annual payments of 32 ii) a 36-year annuity-immediate with annual payments that pays 20 per year for the first 12 years, 40 per year for the second 12 years, and 60 per year for the final 12 years. Calculate X