Chegg, I really need help with this question. Please show me how you arrive at the answer by showing your work (step by step). The more work you show, the better it would help me understand the question and how to approach it in the future. It is important that I answer this question because I need it for an important assignment. Thank you.

We win a judgement of $200,000 now for pain and suffering. The defendant will have to pay us next year. Additionally, he will have to pay us our salaries for 5 years. The salary 2 years ago was $100,000. The increase is 4% yearly. We deserve 3 more salaries for the next 3 years. Derive the payment he will have to give us next year, if the discount rate is 5%. Assume all data occur at the end of the year.