Suppose a 65-year-old person wanted to purchase an annuity from an insurance company that would pay $125,000 until the end of that person’s life. The insurance company expected that this person would live for 17 more years and it would be willing to pay 7 percent on the annuity. How much should the insurance company ask this person to pay for the annuity? Show your work (or what you entered into your calculator for N, PV, FV, etc.)