: A series of four annual constant-dollar payments beginning with $10,000 at the end of the first year is growing at the rate of 8% per year. Assume that the

base year is the current year (n = 0). The market interest rate is 15% per year and the general inflation rate (f ) is 7% per year. (a) Find the present worth of this series of payments, based on constant-dollar analysis The present worth is $____(Round to the nearest dollar.) (b) Find the present worth of this series of payments, based on actual-dollar analysis The present worth is $____(Round to the nearest dollar.)