Phillip was supposed to make a payment of $$4,000$ in $3$ years and another payment for $$1,700$ in $5$ years to Loon Company as part of a payment plan.

Instead, he is trying to reach an agreement with the company where he would pay an upfront amount now, and an amount of $$1,400$ in $6$ years. Assume that money is worth $8\mathrm{.}34\%$ compounded quarterly.

a$.$ Calculate the equivalent value of the $$4,000$ payment and the $$1,700$ payment today.

$$0\mathrm{.}00$

Round to the nearest cent

b$.$ Calculate the upfront amount that he should pay under the alternative payment agreement so that the payments are equivalent.

$$0\mathrm{.}00$

Round to the nearest centof