K You agree in advance to purchase large bulk orders of furniture for your chain of restaurants. To make the contracted payments, you will need $13000 in 3 years, $13000 in 4 years, and $ 16000 in 5 years. You are able to earn 4% simple interest on your money now. 1. What is the value of payment 1, the $ 13000 payment, today? 2. What is the value of payment 2, the $13000 payment, today? 3. What is the value of payment 3, the $16000 payment, today? 4. What is the net present value of the furniture contracts? Answer: 1. Value of payment 1 today = 2. Value of payment 2 today = 5 3. Value of payment 3 today = 4. Value of the furniture today = Check