John wants to cash in his winning lottery ticket. He can receive five $5,000 annual payments starting today, or he can receive a lump-sum payment now based on a 3% annual interest rate. (a) What is the present value of the installments if he opts for the lump-sum payment? $ . Answer must be a whole number. No comma. No $ sign. (b) What is the difference in amount between the first option and the lump-sum payment? $ Answer must be a whole number. No comma. No $ sign