Investment X offers to pay you $6,100 per year for 9 years, whereas Investment Y offers to pay you $8,400 per year for 5 years. a. If the discount rate is 7 percent, what is the present value of these cash flows? Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. If the discount rate is 23 percent, what is the present value of these cash flows? Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. a. Present value of Investment X at 7 percent Present value of Investment Y at 7 percent b. Present value of Investment X at 23 percent Present value of Investment Y at 23 percent