Problem 8 A late penalty of 10% will apply to new answers. Intro A corporate pension plan has to make the following payments over the next few years: Year 1 2 3 4 Amount ($ million) 22 26 32 40 The appropriate interest rate is 6%. Part 1 What is the present value of the liability (in $ million)? 0+ decimals Submit Attempt 1/10 for 9 pts. Part 2 What is the duration of the liability? Attempt 1/10 for 9 pts. 2+ decimals