Use the present value table in Appendix A and Appendix B to compute the NPV of each of the following cash outflows:

a. $22,000 paid at the end of 4 years. The discount rate is 5 percent.

b. $2,000 paid at the end of 3 years and $5,000 paid at the end of 5 years. The discount rate is 8 percent.

c. $7,000 paid annually at the end of each of the next four years. The discount rate is 4 percent.

d. $1,500 paid annually at the end of each of the next 4 years and $3,000 paid at the end of the fifth year. The discount rate is 6 percent.