Second Chances co, entered into an agreement with Alpha co to receive a series of cash payments. In the first 5 years, Second chances would receive 10,000 a year. In years 6-9, Second chances would receive $15,000 a year, and in year 10, Second chances would receive $20,000. What is the value of these future payments worth today assuming a current market rate of 8%? Please show work with equation for calculating Present value of 1 and Present value of annuity.