Answer:
1.
Tinkers:
PVA = $20,000 × 7.19087* = $143,817
*Present value of an ordinary annuity of $1: n = 15, i = 11% (from PVA of $1)
PV = $143,817 × 0.81162* = $116,725
*Present value of $1: n = 2, i = 11% (from PV of $1)
Evers:
PVA = $25,000 × 7.19087* = $179,772
*Present value of an ordinary annuity of $1: n = 15, i = 11% (from PVA of $1)
PV = $179,772 × 0.73119* = $131,447
*Present value of $1: n = 3, i = 11% (from PV of $1)
Chance:
PVA = $30,000 × 7.19087* = $215,726
*Present value of an ordinary annuity of $1: n = 15, i = 11% (from PVA of $1)
PV = $215,726 × 0.65873* = $142,105
*Present value of $1: n = 4, i = 11% (from PV of $1)