value: 1.00 points The Great Giant Corp. has a management contract with its newly hired president. The contract requires a lump sum payment of $25,600,000 be paid to the president upon the completion of her first 9 years of service. The company wants to set aside an equal amount of funds each year to cover this anticipated cash outflow. The company can earn 8 percent on these funds. How much must the company set aside each year for this purpose? O$2,050,040.55 $1,980,339.18 $2,048,000.00 O$2.256,829.47 O$1,985,669.28 Check my work npa value: 1.00 points The Good Life Insurance Co. wants to sell you an annuity which will pay you $610 per quarter for 20 You want to earn a minimum rate of return of 4.6 percent. What is the most you are willing to pay as a lump sum today to buy this annuity? years. O $25,719.27 O $31,466.12 $31,793.38 $23,296.91 $21,595.21 Check my work