Annual cash inflows that will arise from two competing investment projects are given below: Year Investment A Investment B 1 $ 8,000 $ 11,000 2 9,000 10,000 3 10,000 9,000 4 11,000 8,000 $ 38,000 $ 38,000 The discount rate is 8%.

Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using tables.

Required: Compute the present value of the cash inflows for each investment.