(Presant value of annuities and complex cash flows) 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
$ 10,000
$15,000
2
10,000
3
10,000
4
10,000
5
10,000
$10,000
6
10,000
45,000
7
10,000
8
10,000
a. What is the present value of investment A at an annual discount rate of 15 percent?
$ 33,521.55 (Round to the nearest cent.)
b. What is the present value of investment B at an annual discount rate of 15 percent?
(Round to the nearest cent.)