Present Value of an Annulty: Determine the present value of $220,000 to be received at the end of each of four years, using an interest rate of 10%6, compounded annually, as follows: a. By successive computations, using the present value of $1 table in Exhibit 5 . Round to the nearest whole doliar. b. By using the present value of an annuity of $1 table in Exhibit 7. Round to the nearest whole dollar: c. Why is the present value of the four $220,000 cash receipts less than the $880,000 to be received in the future? The present value is less due to over the 4 years