Sharon Smith will receive $1.08 million in 50 years. The discount rate is 12%. As an alternative, she can receive $3,240 today. Which should she choose? Use Appendix B to calculate the answer.

Dr. J. wants to buy a Dell computer which will cost $3,400 eight years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 8% annual return. How much should he set aside? Use Appendix C to calculate the answer. (Round your final answer to 2 decimal places.)