Jennifer has invested in two schemes. The first scheme has a required return of 12% and will produce a stream of £300 at the end of each year indefinitely. The second scheme has a required return of 8% and will produce an end-of-year cash flow of £500 in the first year, £800 in the second and third years, and £250 in its fourth and final year. Calculate the present value of each investment scheme based on their payment streams and required returns.