Compute the present value of $1,250 paid in three years using the following discount rates: 7 percent in the first year, 8 percent in the second year, and 9 percent in the third year. (Do not round intermediate calculations. Round your answer to 2 decimal places.) What annual rate of return is earned on a $4,000 investment made in year 6 when it grows to $6,200 by the end of year 10 ? (Do not round intermediate calculations. Round your answer to 2 decimal places.)