Related to Checkpoint 6.4) (Present value of a perpetuity) What is the present value of a $170 perpetuity discounted back to the present at 8 percent? The present value of the perpetuity is $. (Round to the nearest cent) (Present value of a growing perpetuity) What is the present value of a perpetual stream of cash flows that pays $50,000 at the end of year one and then grows at a rate of 3% per year indefinitely? The rate of interest used to discount the cash flows is 12%. The present value of the growing perpetuity is $. (Round to the nearest cent.)