Find the present value of

(1) A single payment of $36,000 at 4 percent made 12 years from now,

(2) 12 annual payments of $3,000 at 4 percent,

(3) A single payment of $7,000 at 8 percent made 5 years from now,

(4) Five annual payments of $7,000 at 8 percent. (Tables 1 and 2 in Appendix B may be used where appropriate.)