1. Imprudential, Inc., has an unfunded pension liability of $550 million that must be paid in 20 years. To assess the value of the firm's stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 6.0 percent, what is the present value of this liability?
$168,062,748
$174,922,452
$171,492,600
$157,773,192
$184,193,887
2. At the beginning of the year, a firm has current assets of $399 and current liabilities of $262. At the end of the year, the current assets were $409 and the current liabilities were $302. What is the change in net working capital?
$50
$10
$-10
$-30
$40