What is the value of an investment that pays $25,000 everyotheryear forever, if the first payment occurs one year from today and the discount rate is 9 percent compounded daily?(Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

What is the value today if the first payment occurs four years from today?(Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))