Required:
1.	Calculate the present value for the following assuming that the money can be invested at 11% percent. (Round final answers to the nearest dollar amount.)

		Present Value
a.	You may receive $63,000 immediately.	$
b.	You may receive $86,000 at the end of five years.	$
c.	You may receive $20,000 at the end of each year for five years (a total of $100,000).	$

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables.