Jennifer Davis died, leaving to her husband David an insurance policy contract that provides that the beneficiary $($David$)$ can choose

any one of the following four options. Money is worth $2\mathrm{.}5\%$ per quarter, compounded quarterly. Compute Present value if:

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$($a$)$

Your answer is correct.

a$.$ $$55,260$ immediate cash.

Present value

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$($b$)$

X Your answer is incorrect.

b$.$ $$4,040$ every $3$ months payable at the end of each quarter for $5$ years. $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and

final answer to $0$ decimal places, e$.$g$.458,581.)$

Present value $