(Present value of an uneven stream of payments) You are given three investment alternatives to analyze. The cash flows from these three investments are asfollows:

Investment

End of Year

A

B

C

1

$

1 comma 000

1,000

$

3 comma 000

3,000

$

4 comma 000

4,000

2

2 comma 000

2,000

3 comma 000

3,000

4 comma 000

4,000

3

3 comma 000

3,000

3 comma 000

3,000

( 4 comma 000 )

(4,000)

4

( 4 comma 000 )

(4,000)

3 comma 000

3,000

( 4 comma 000 )

(4,000)

5

4 comma 000

4,000

5 comma 000

5,000

14 comma 000

14,000

What is the present value of each of these three investments if the appropriate discount rate is 9

9 percent?

a.What is the present value of investment A at an annual discount rate of 9

9 percent?