Use the Present Value of $1 table to determine the present value of $1 received one year from now. Assume an 8% interest rate. Use the same table to find the present value of $1 received two years from now. Continue this process for a total of five years. Round to three decimal places. (Click the icon to view Present Value of $1 table.) Read the requirements. Requirement 1. What is the total present value of the cash flows received over the five-year period? Calculate the total present value of $1 received each year. (Round to three decimal places, X.Xxx) Present Value One year from now Two years from now Three years from now Four years from nowl Five years from now Total present value Requirement 2. Could you characterize this stream of cash flows as an annuity? Why or why not? The stream of cash flowsan annuity because it is a stream of V cash payments made at v time intervals