Determine the present value of $110,000 to be received at the end of each of 4 years, using an interest rate of 10%, compounded annually, as follows: a. By successive computations, using the present value of $1 table in Exhibit 5. Round to the nearest whole dollar. b. By using the present value of an annuity of $1 table in Exhibit 7. Round to the nearest whole dollar. c. Why is the present value of the four $110,000 cash recepts less than the $440,000 to be received in the future? The present value is less due to! over the 4 years. Fetsura: F Ohesk M, Wok Review the time value of money concept. Recall that the time value of money concept recognires that cash received today is worth more than the same amount of cash to be received in the future