\begin{tabular}{|c|r|} \hline Discount rate & \multicolumn{2}{|c|}{5%} \\ \hline Year & \multicolumn{1}{|c|}{} \\ \hline 0 & Gift \\ \hline 1 & 500.00 \\ \hline 2 & 10,000.00 \\ \hline 3 & 5,000.00 \\ \hline 4 & 15,000.00 \\ \hline \end{tabular} Problem 3 Calculate the present value of all 5 gifts, all of which to be made at the beginning of year, using: PV function NPV function Discount factor method