Part 1- First National Bank charges 11.5 percent compounded monthly on its business loans. First United Bank charges 11.7 percent compounded semiannually. Calculate the EAR for each bank. Please do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places Part 2- Assume the appropriate discount rate for the following cash flows is 8.5 percent. Year 1 234 Cash Flow $1,250 1,150 850 650 What is the present value of the cash flows? Please do not round intermediate calculations and round your answer 2 decimal places.