As a result of a slowdown in operations, Mercantile Stores is offering to employees who have been terminated a severance package of $110,000 cash, another $110,000 to be paid in one year, and an annuity of $31,000 to be paid each year for 20 years. Use Excel to compute the present value of the complete package, assuming an interest rate of 7 percent. (Round your final answers to the nearest whole dollar amount.) Cash Payment Present value of $110,000 face value Present value of $31,000 annuity Total Excel values based on % % n=

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