6.1 Freisinger, Inc., management is expecting a new project to start paying off, beginning at the end of next year. Cash flows are expected to be as follows: 7.8% Year S433,676 $478452 $475,455 $478.326 $535,444 If Freisinger can reinvest these cash flows to earn a return of 7.8 percent, what is the future value of this cash flow stream at the end of five years? What is its present value? 2 2 3 3 5 Year $433,676 TSF'SUBS SSH SZPS $478,326 bht'sess