P5-20 (similar to) Present value of an annuity Consider the following case. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) a. Calculate the present value of the annuity assuming that it is (1) An ordinary annuity. (2) An annuity due. Amount of annuity $49,000 Interest rate 11% Period (years) 5 b. Compare your findings in parts a(1) and a(2). All else being identical, which type of annuity-ordinary or annuity due-is preferable? Explain why. The present value of the ordinary annuity is $ (Round to the nearest cent.)