A company wants to determine how much it should pay to purchase a particular ordinary annuity today. The annuity consists of cash flows of $ 8,000 at the end of each year for 5 years. The firm...

• A company wants to determine how much it should pay to purchase a particular ordinary annuity today. The annuity consists of cash flows of $ 8,000 at the end of each year for 5 years. The firm requires the annuity to provide a minimum return of 10%.Calculate the amount(Means you need to calculate
  PV of ordinry annuity).

However anlyse how the answer will change if it a annuity due.