Problem $5-26$ Annuity Values $($LO$3)$

a$.$ What is the present value of a $3-$year annuity of $$280$ if the discount rate is $6\%?($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

b$.$ What is the present value of the annuity in $($a$)$ if you have to wait an additional year for the first payment? $($Do not round intermediate calculations. Round your final answer to $2$ decimal places.$)$

Present value