a. What is the present value of the following set of cash flows, discounted at

9.5%

per year?

Year	1	2	3	4	5
CF	$11	$21	$31	$41	$51

b. What is the present value of the following set of cash flows, discounted at

9.5%

per year?

Year	1	2	3	4	5
CF	$51	$41	$31	$21	$11

c. Each set contains the same cash flows

($11,

$21,

$31,

$41,

$51),

so why is the present value different?

Question content area bottom

Part 1

a. What is the present value of the following set of cash flows, discounted at

9.5%

per year?

Year	1	2	3	4	5
CF	$11	$21	$31	$41	$51

The present value of the cash flow stream is

(Round to the nearest cent.)