Given the following stream of cash flows at the end of each of the next five years:

Year Cash Flow

$1100$

$2400$

$3100$

$450$

$5500$

a$.$ Calculate the Present Value of these cash flows if the discount rate is $12\%$ per year.

b$.$ What is the PV here if the discount rate is instead $8\%$ per year?

c$.$ If the PV of these cash flows were $$1,000,$ what must be the discount rate?