Which of the following investments has a higher present value, assuming the same (strictly positive) interest rate applies to both investments? YearInvestment XInvestment Y1$5,000$11,0002$7,000$9,0003$9,000$7,0004$11,000$5,000
A: Investment X has a higher present value.
B: Investment Y has a higher present value.
C: Investment X and Investment Y have the same present value, since the total of the cash flows is the same for both.
D: No comparison can be made—we need to know the interest rate to calculate the present value.