Exercise 5-14 (Algo) Present value; annuities [LO5-8] Assuming a 12% annual interest rate, determine the present value of a five-period annual annuity of $7,700 under each of th following situations: Note: Use tables, Excel, or a financial calculator. (FV of $1. PV of $1, FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1 ) 1. The payments are received at the end of each of the five years and interest is compounded annually. 2. The payments are received at the beginning of each of the five years and interest is compounded annually. 3. The payments are received at the end of each of the five years and interest is compounded quarterly. (X) Answer is not complete. Complete this question by entering your answers in the tabs below. The payments are recelved at the end of each of the five years and interest is compounded annually. Note: Round your final answers to nearest whole dollar amount. Complete this question by entering your answers in the tabs below. The payments are recelved at the beginning of each of the flve years and interest is compounded annually. Note: Round your final answers to nearest whole dollar amount. The payments are recelved at the end of each of the flive years and interest is compounded quarterly. Note: Round your final answers to nearest whole dollar amount