Present Value of an Annuity Determine the present value of $$340,000$ to be received at the end of each of four years, using an interest rate of $5\%,$ compounded annually, as follows: a$.$ By successive computations, using the present value of $$1$ table in Exhibit $5.$ Round to the nearest whole dollar. First year $ Second Year Third Year Fourth Year Total present value $

b$.$ by using the present value of an anniity of $1\mathrm{.}00$ table in exibit $7$ round to the nearest whole dollar