Exercise B-11 (Static) Present value with semiannual Compounding LO C1, P3 Otto Company borrows money on January 1 and promises to pay it back in four semiannual payments of $13,000 each on June 30 and December 31 of both this year and next year. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to nearest whole dollar. Round "Table Factor" to 4 decimal places.)

1. How much money is Otto able to borrow if the interest rate is 8%, compounded semiannually?

2. How much money is Otto able to borrow if the interest rate is 12%, compounded semiannually?

3. How much money is Otto able to borrow if the interest rate is 16%, compounded semiannually?