$($Related to Checkpoint $5\mathrm{.}4)($Present$-$value comparison$)$ You are offered $$110,000$ today or $$340,000$ in $12$ years. Assuming

that you can earn $12$ percent on your money, which should you choose?

If you are offered $$340,000$ in $12$ years and you can earn $12$ percent on your money, what is the present value of $$340,000?$

$($Round to the nearest cent.$)$