Time Value of Money It is December 31st 2021 and Taylor has just won the lottery. Instead of receiving one lump-sum payment on that day, Taylor receives $100,000 that day, $45,000 over the next four years (that is on 12-31-2022, 12-31-2023, 12-31-2024, and 12-31-2025, and a growing annuity for 10 that, which pays its first payment of $50,250 on 12-31-2026 and grows at 5% per year. The last payment takes place on 12-31-2035. The discount rate is 7.5%. (Hint: Create an Excel spreadsheet with all the cash flows). years after What is the present value on December 31st 2021 of this stream of payments. What is the Macaulay duration (in years) of this stream of payments on December 31st 2021