Del monty will receive the following payments at the end of the next three years: $18,000, $21,000, and $23,000. then from the end of the 4th year through the end of the 10th year, he will receive an annuity of $24,000 per year. at a discount rate of 10 percent, what is the present value of all three future benefits? use appendix b and appendix d for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (do not round intermediate calculations. round your final answer to 2 decimal places.)

Alamar petroleum company offers its employees the option of contributing retirement funds up to 5% of their wages or salaries, with the contribution being matched by alamar. the company also pays 80% of medical and life insurance premiums. deductions relating to these plans and other payroll information for the first biweekly payroll period of february are listed as follows: wages and salaries $ 2,800,000 employee contribution to voluntary retirement plan 92,000 medical insurance premiums 50,000 life insurance premiums 9,800 federal income taxes to be withheld 480,000 local income taxes to be withheld 61,000 payroll taxes: federal unemployment tax rate 0.60 % state unemployment tax rate (after futa deduction) 5.40 % social security tax rate 6.20 % medicare tax rate 1.45 % required: prepare the appropriate journal entries to record salaries and wages expense and payroll tax expense for the biweekly pay period. assume that no employee's cumulative wages exceed the relevant wage bases for social security, and that all employees' cumulative wages do exceed the relevant unemployment wage bases.