Calculate the present value of the following stream of cash flows: cash flows of $7,000, quarterly for 7 years. Assume an interest rate (annual) of 12% (i.e. APR with quarterly compounding). Assume...

Calculate the present value of the following stream of cash flows: cash flows of $7,000, quarterly for 7 years.  Assume an interest rate (annual) of 12% (i.e. APR with quarterly compounding).  Assume that the first cash flow occurs at t = 0.
Show work for all parts requiring computation.

1. Calculate the present value of the stream of cash flows.

1. What is the EAR for the same APR of 12% (i.e. APR with quarterly compounding)?