(Related to Checkpoint 6.5) (Present value of a growing perpetuity) What is the present value of a perpetual stream of cash flows that pays $8,000 at the end of year one and the annual cash flows grow at a rate of 3% per year indefinitely, if the appropriate discount rate is 9% ? What if the appropriate discount rate is 7% ? a. If the appropriate discount rate is 9%, the present value of the growing perpetuity is $133333.3. (Round to the nearest cent.)