You are given three investment alternatives to analyze. The cash flows from these three investments are as follows:

Investment

End of Year A B C

1 3,000 3,000 6,000

2 4,000 3,000 6,000

3 5,000 3,000 (6,000)

4 (6,000) 3,000 (6,000)

5 6,000 6,000 16,000

What is the present value of investment B at an annual discount rate of 12

percent?

What is the present value of investment C at an annual discount rate of 12

percent?