(Related to Checkpoint 6.5) (Present value of a growing perpetuity) What is the present value of a perpetual stream of cash flows (hat pays $1.000 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 13%? What if the appropriate discount rate is 11%? a. If the appropriate discount rate is 13%. the present value of the growing perpetuity is $ (Round to the nearest cent.) b. f the appropriate discount rate is I 1%, the present value of the growing perpetuity is $. (Round to the nearest cent.)