Zack leaves an estate of P4,000,000. Interest on the estate is paid annually as accrued (meaning fixed payments) to Jack for the first 7 years, to Mack for the second 7 years, and to the Scholarship Fund thereafter. Find the relative shares (or amount at present) of Jack, Mack and the Scholarship Fund in the estate, if it assumed the estate will earn a 3.5% annual effective rate of interest. Note: The given rate will be used to compute the fixed interest payments and the present value.