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Problem 6-2 Present Value and Multiple Cash Flows (LO 1] Investment X offers to pay you $5,500 per year for 9 years, whereas Investment Y

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Problem 6-2 Present Value and Multiple Cash Flows (LO 1] Investment X offers to pay you $5,500 per year for 9 years, whereas Investment Y offers to pay you $7,900 per year for 5 years. If the discount rate is 5 percent, what is the present value of these cash flows? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

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