George Penny will receive $$31,000$ for the next $11$ years as a payment for a slogan he coined. Currently a $12$ percent discount rate is appropriate. Use Appendix D$.($Round $"$PV Factor" to $3$ decimal places. Round the final answers to the nearest whole dollar.$)$

a$-1.$ Calculate the present value.

Present value $

a$-2.$ Should he be willing to sell his future rights now for $$203,000?$

multiple choice $1$

Yes

No

b$-1.$ Calculate the present value if the payments will be made at the beginning of the year.

Present value $

b$-2.$ Should he be willing to sell his future rights now for $$203,000,$ if payments will be made at the beginning of the year?

multiple choice $2$

Yes

No