Next question (Related to Checkpoint 6.2) (Present value of an ordinary annuity) Nicki Johnson, a sophomore mechanical engineering student, receives teaching. He talks to her about several annuities that she could buy that would guarantee her a fixed annual income. The annuities are as follows: rance agent who believes that Nicki is an older woman who is ready to retire from Purchase Price of the Amount of Money Duration of the Annuity Annuity (At t = 0) Received Per Year Annuity (Years) A $50,000 $8,500 12 B $50,000 $7,000 25 $60,000 $8,000 20 (Click on the icon in order to copy its contents into a spreadsheet.) Nicki could earn 11 percent on her money by placing it in a savings account. Alternatively, she could place it in any of the above annuities. Which annuities in the table above, if any, will earn Nicki a higher return than investing in the savings account earning 11 percent? a. If Nicki could earn 11 percent on her money, what is the present value of annuity A with $8,500 payments per year and 12 years duration? (Round to the nearest cent.)