$($Related to Checkpoint$6\mathrm{.}5)($Present value of a growing$$ perpetuity$)$What is the present value of a perpetual stream of cash flows that pays $$$$4$ comma $000$ at the end of year one and the annual cash flows grow at a rate of $2\%$ per year$$ indefinitely, if the appropriate discount rate is $10\%?$ What if the appropriate discount rate is $8\%?$

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Part $1$

a$.$If the appropriate discount rate is $10\%,$ the present value of the growing perpetuity is$$ $

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $2$

b$.$If the appropriate discount rate is $8\%,$ the present value of the growing perpetuity is$$ $

$$

enter your response here. $($Round to the nearest $$ cent.$)$