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Investment X offers to pay you $6,000 per year for nine years, whereas Investment Y offers to pay you $8,000 per year for six years.

Investment

X offers to pay you $6,000 per year for nine years, whereas

Investment Y offers to pay you $8,000 per year for six years.

Which of these cash flow streams has the higher present value if the discount rate is

5%? If the discount rate is 22%?

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