A contract between two parties (company C & D) was created such that in return for services rendered, company C could have two options for repayment. Option 1 would have payments of $10,000 in quarter 4, $20,000 in quarter 8, and $30,000 in quarter 12. Alternatively, under Option 2, Company C could pay two equal amounts now and in quarter 12. If interest on the contract is 8.2% compounded monthly, determine the value of the lump sum payments that should be written in the contract. When entering your answer, round your values to two decimal places, and use a $ symbol as well as the correct comma separator. For example $1,234.56 Answer: A mining company is now planning for the cleanup of an environmentally sensitive gold mine. It is estimated in year 10 until year 15, the company will have to spend $10 million per year for cleanup. If the company uses a rate of return of 7% compounded monthly, determine the amount they will have to allocate now, such that they have the ability to pay off these obligations. When entering your answer, round your values to the nearest dollar, and use a $ symbol, as well as the correct comma separator. For example $1,234,567