Present value of an annuity Consider the following case. (Click on the icon located on the top-right comer 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. b. Compare your findings in parts a(1) and a(2). All else being identical, which type of annuity -ordinary or annuity due- yields a higher present value? Explain why