Calculate the following:
a. Present value of $200,000 to be received in ten years at a discount rate of 14 percent.
b. Present value of the following series of cash payments: $50,000 to be received in one year, $25,000 in three years, and $10,000 in five years, at a discount rate of 6 percent.
c. Present value of the following series of cash payments: $10,000 to be received in one year, $25,000 in three years, and $50,000 in five years, at a discount rate of 6 percent.