Company A needs $300,000 cash in 2years for the new product development.How much cash does the company have to set aside in Certificate of deposit (CD)"s today in order to have liquidity at the end if year 2. Assuming the CD's pay 2.5% annual interest in the first year and 3.2% annual interest in the second year, compounded monthly in both years. Please show all steps and frame work in arriving at answer and explain.Please no financial calculators.