Investment X offers to pay you $4,700 per year for 9 years, whereas Investment Y offers to pay you $6,400 per year for 5 years a. If the discount rate is 8 percent, what is the present value of these cash flows? (Do not round intermediate calculations and round your answers to 2 decimal places, eg. 32.16.) b. If the discount rate is 20 percent, what is the present value of these cash flows? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) a. Present value of Investment X at 8 percent Present value of Investment Y at 8 percent Present value of investment X at 20 percent Present value of Investment Y al 20 percent b. Next >