Calculate the present value $of$ the following:

$a-1.$ Annual payment $of$ $$900$ for $12$ years $at3\%$ interest.

Note: $Do$ not round intermediate calculations. Round your answer $to2$ decimal places.

$a-2.$ Annual payment $of$ $$700$ for $17$ years $at3\%$ interest.

Note: $Do$ not round intermediate calculations. Round your answer $to2$ decimal places.

$a-3.$ Which option would you prefer?

$b-1.$ Annual payment $of$ $$900$ for $12$ years $at12\%$ interest.

Note: $Do$ not round intermediate calculations. Round your answer $to2$ decimal places.

$b-2.$ Annual payment $of$ $$700$ for $17$ years $at12\%$ interest.

Note: $Do$ not round intermediate calculations. Round your answer $to2$ decimal places.

$b-3.$ Which option would you prefer?