Clifford has X dollars right now. In six years, X will be $3500 if it is invested at 4 percent, compounded annually. Determine the present value of X. If Clifford invested X dollars at 4 percent compounded daily, how much would the value of X be in 10 years? (Assume that there are 365 days per year.) The present value of X is $2991.81. (Round to the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places as needed.)