Investment X offers to pay you $6,000 per year for 9 years, whereas Investment Y offers to pay you $8,200 per year for 5 years.

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, e.g., 32.16.)

Present value

Investment X __?__

Investment Y __?__

If the discount rate is 23 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.)

Present Value

Investment X ___?___

Investment Y __?___