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Determine the present value of $110,000 to be received at the end of each of four years, using an interest rate of 5%, compounded annually,

Determine the present value of $110,000 to be received at the end of each of four years, using an interest rate of 5%, compounded annually, as follows: a. By successive computations, using the present value of $1 table in Exhibit 5. Round to the nearest whole dollar.

First year $fill in the blank 1

Second Year $fill in the blank 2

Third Year $fill in the blank 3

Fourth Year $fill in the blank 4

Total present value $fill in the blank 5

b. By using the present value of an annuity of $1 table in Exhibit 7. Round to the nearest whole dollar.

$fill in the blank 6

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