A) What is the present value of a series of payments received each year for 9 years, starting with $400 paid one year from now and the payment growing in each subsequent year by 5%? Assume a discount rate of 7%. Please round your answer to the nearest cent.

B) What is the present value of a series of payments received each year forever, starting with $100 paid one year from now and the payment growing in each subsequent year by 3%? Assume a discount rate of 4%. Please round your answer to the nearest cent.