Problem 5-2 Present Value and Multiple Cash Flows [LO 1) Investment X offers to pay you $3,100 per year for 9 years, whereas Investment Y offers to pay you $4,800 per year for 5 years. a. If the discount rate is 6 percent, what is the present value of these cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. If the discount rate is 22 percent, what is the present value of these cash flows? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) a. Investment X Investment Y b. Investment X Investment y