To insure you, Assurances Nochance Ltd offers the following plan: you will pay 20 grnual payments of $8,000 starting one year-from teday. Then, in vear 21 , you or your heirs will recelve a pension for the following 15 years. The discount rate used by the company to calculate your pension is 6%. (a) What is the size of your annual pension? (10 POINTS) (b) If you could take a one-time lump sum payment 25 years from today instead of the pension, how high would the equivalent lump sum payment have to be? (5 POINTS)