(Present value of an annuity)Determine the present value of an ordinary annuity of $2,500 per year for 20 years, assuming it earns 16 percent. Assume that the first cash flow from the annuity comes at the end of year 6 and the final payment at the end of year 25 . That is, no payments are made on the annuity at the end of years 1 through 5. Instead, annual payments are made at the end of years 6 through 25.