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Investment X offers to pay you $6,100 per year for nine years, whereas Investment Y offers to pay you $8,800 per year for five years.

Investment X offers to pay you $6,100 per year for nine years, whereas Investment Y offers to pay you $8,800 per year for five years.

a.	Calculate the present value for Investments X and Y if the discount rate is 5 percent. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
b.	Calculate the present value for Investments X and Y if the discount rate is 15 percent. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

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