HC established an early retirement program as part of its corporate restructuring. At the close of the voluntary sign-up period, 70 employees had elected early retirement. As a result of these early retirements, the company incurs the following obligations over the next four years: Year 1 2 3 4 5 $ Required 330 400 430 500 400 The cash requirements (in thousands of dollars) are due at the beginning of each year. The corporate treasurer must determine how much money must be set aside today to meet the four yearly financial obligations as they come due. The financing plan for the retirement program includes investments in government bonds as well as savings. The investments in government bonds are limited to three choices: Rate (%) Years to Maturity 1 2.15 2 2 3.50 3 3 2.50 4 The government bonds have a par value of $1,000, which means that even with different market prices each bond pays $1,000 at maturity. The rates shown are based on the par value. For purposes of planning, the treasurer assumed that any funds not invested in bonds will be placed in one-year C/D and earn interest at an annual rate of 1% for the first two years and 1.5% for the rest years. You can use "Q4 Answer" for your answer. Bond Price 1050 990 1150