Consider the streams of income given in the following table:

a$.$ Find the present value of each income stream, using a discount rate of $1\%,$ then repeat those calculations using a discount rate of $7\%.$

b$.$ Compare the calculated present values and discuss them in light of the fact that the undiscounted total income amounts to $$22,000$ in each case.

a$.$ The present value of income stream A$,$ using a discount rate of $1\%$ is $

$($Round to the nearest cent.$)$

Data table

$\backslash$table$[[,$Income Stream$],[,A,B$