What would be the present value on January 1, year 1, of a $6,000 note (this amount includes both principal and interest) which is payable in full on December 31, year 4, at a 12 percent interest rate, assuming: (a) Annual discounting? $_______________________. ( 5 Marks) (b) Semi-annual discounting? $_______________________. ( 5 Marks) (c) Quarterly discounting? $_______________________. (5 Marks)