Julie has just retired. Her companys retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum of $129,000 immediately as her full retirement benefit. Under the second option, she would receive $18,000 each year for six years plus a lump-sum payment of $55,000 at the end of the six-year period.

Required:
1a.	Calculate the present value for the following assuming that the money can be invested at 12%. (Use the appropriate table to determine the discount factor(s).)