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Annual cash inflows from two competing investment opportunities are given below. Each investment opportunity will require the same initial investment. Investment X Investment Y Year

Annual cash inflows from two competing investment opportunities are given below. Each investment opportunity will require the same initial investment.

Investment X Investment Y
Year 1 $ 1,000 $ 4,000
Year 2 2,000 3,000
Year 3 3,000 2,000
Year 4 4,000 1,000
Total $ 10,000 $ 10,000

Required:

Compute the present value of the cash inflows for each investment using a 9% discount rate. (Round final answers to the nearest dollar amount.)

Present Value of Cash Flows
Investment X $
Investment Y $

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