a. $9,000 is to be received at the end of each of the next nine semiannual interest periods, plus $13,000 to be received at the end of each of the next ten semiannual interest periods after that. Interest is compounded semiannually. 

The present value (PV) of this scenario is $........  

b. There are no cash flows to be received at the end of the first four semiannual periods. However, $ 30,000 is to be received at the end of the next three semiannual periods after that (this is known as a deferred annuity with semiannual compounding)

The present value (PV) of this scenario is $........