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Calculate the present value of the following: a-1. Annual payment of $850 for 11 years at 4% interest. Note: Do not round intermediate calculations. Round

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Calculate the present value of the following: a-1. Annual payment of $850 for 11 years at 4% interest. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. a-2. Annual payment of $650 for 16 years at 4% interest. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. a-3. Which option would you prefer? b-1. Annual payment of $850 for 11 years at 16% interest. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b-2. Annual payment of $650 for 16 years at 16% interest. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b-3. Which option would you prefer

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