Problem 4-11 Present Value and Multiple Cash Flows Specter Co. has identified an investment project with the following cash flows. Year 1 2 3 4 Cash Flow $ 850 1,190 1,450 1,600 a. If the discount rate is 7 percent, what is the present value of these cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. If the discount rate is 16 percent, what is the present value of these cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. If the discount rate is 30 percent, what is the present value of these cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Present value b Present value C. Present value