(Present value on a growing perpetuity). What is the present value of a perpetual stream of cash flows that pays $1000 at the end of year one and the annual cash flows grows at a rate of 4% per year indefinitely, if the appropriate discount rate is 8%? What if the appropriate discount rate is 6%?

a). If the appropriate discount rate is 8%, the present value of the growing perpetuity is? $ (round to the nearest cent)

b). If the appropriate discount rate is 6%, the present value of the growing perpetuity is? $ (round to the nearest cent)