1) Calculate the present value today of a $4,450 cash flow expected to be received exactly 9 years from today if the required rate of return on this cash flow is 8% per year.
a) $2,226.11
b) $8,895.70
c) $1,246
d) $4,120.37
2) Calculate the present value of the following series of cash flows if the applicable rate is 7%: $450 today, $960 one year from today, $820 two years from today.
a) $2,230.00
b) $1,928.43
c) $2,362.41
d) $2,063.42
Please show with work