You are serving on a jury. A plaintiff is sulng the city for injuries sustained after a freak street sweeper accident. In the trial, doctors testifled that It will be flve years before the plaintiff is able to return to work. The Jury has already decided in favor of the plaintiff. You are the foreperson of the jury and propose that the jury give the plaintiff an award to cover the following: (a) The present value of two years' back pay. The plaintiff's annual salary for the last two years would have been $41,000 and $44,000, respectively. (b) The present value of flve years' future salary. You assume the salary will be $48,000 per year. (c) $100,000 for pain and suffering. (d) $20,000 for court costs. Assume that the salary payments are equal amounts paid at the end of each month. If the interest rate you choose is an 8% EAR, what Is the slze of the settlement? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) SIze of the settlement $ If you were the plaintiff, would you like to see a higher or lower Interest rate? HIgher Interest rate Lower Interest rate