What is the present value of an annuity that pays $1,780 each year for 24 years if interest rates are (1) = 6.9%? Assume the first payment is made 1 year from today. What is the present value of an annuity that pays $1,990 each quarter for 19 years if interest rates are i(4) = 9.5%? Assume the first payment is made in 3 months.