Problem $2$

The following two cash flows Cash Flow $($CF$-1)$ and Cash Flow $($CF$-2)$ are economically equivalent. The effective interest

rate is $12\%$ per period. The value of $A($annuity of CF$-1)$ is $$7,000$ and the value of $B($cash flow in year $9$ of CF$-2)$ is

$$8,000.$ Please follow the questions to find out the unknown $x.$ Round the answer to the nearest integer.