please explain step by step

Learning Objective 3 2. $143,208 ILI UF ule investment. Round to two places. E26-21 Using the time value of money Sharon wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $34,000 (if she needs more, she will work odd jobs), Sharon believes she can invest her savings at 8% until she depletes her funds. Requirements 1. How much money does Sharon need now to fund her travels? 2. After speaking with a number of banks, Sharon learns she will only be able to invest her funds at 6%. How much does she need now to fund her travels? C Requirement1 Present value = Amount of each net cash inflow (cash needs) 34000 Annuity PV Factor for i=8% n=5 1000 10 Requirement 2 12 Present value = Amount of each net cash inflow x Annuity PV Factor for 1=6%, n=5