7- An investment pays 300 annually for five years, with the first payment occurring today. The present value (PV) of the investment discounted at a 4% annual rate is closest to: A. 1,336. B. 1,389. c. 1,625. 8- A perpetual preferred stock makes its first quarterly dividend payment of $2.00 in five quarters. If the required annual rate of return is 6% compounded quarterly, the stock's present value is closest to: A. $31. B. $126. C. $133