Present Value of an Annuity Determine the present value of $310,000 to be received at the end of each of four years, using an interest rate of 10%, compounded annually, as follows: a. By successive computations, using the present value table in Exhibit 8. Round to the nearest whole dollar. First year $fill in the blank 1 Second Year $fill in the blank 2 Third Year $fill in the blank 3 Fourth Year $fill in the blank 4 Total present value $fill in the blank 5 b. By using the present value table in Exhibit 10. Round to the nearest whole dollar. $fill in the blank 6 c. Why is the present value of the four $310,000 cash receipts less than the $1,240,000 to be received in the future? The present value is less due to over the 4 years.