The presentvalue of a 10 -year annuity is $35,000. The firstannual cash flow occurs one yearfrom today. If the discountrate is 7.4%, what is the payment amount? Enter your answer as a positive number, and round to the nearest penny. Consider a series of $118,000 annual cash flows in each of the next 10 years. The first cash flow occurs today. The structure represents an annuity due. If the discount rate is 9%, what is the present value of this series of cash flows? Round your answer to the nearest penny