$($Present value of an annuity$$ due$)$Determine the present value of an annuity due of $ $5$ comma $000$ per year for $8$ years discounted back to the present at an annual rate of $7$ percent. What would be the present value of this annuity due if it were discounted at an annual rate of $12$percent$?$

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Part $1$

a$.$If the annual discount rate is $7$percent$,$ the present value of the annuity due is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $2$

b$.$If the annual discount rate is $12$percent$,$ the present value of the annuity due is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$