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5-27 Discounted Cash Flow Analysis [LO 1] Assume the appropriate discount rate for the following cash flows is 8.4 percent. Year Cash Flow 1 $1,200

5-27 Discounted Cash Flow Analysis [LO 1] Assume the appropriate discount rate for the following cash flows is 8.4 percent. Year Cash Flow 1 $1,200 2 1,100 3 800 4 600 Required:What is the present value of the cash flows? (Do not include the dollar sign . Round your answer to 2 decimal places (e.g., 32.16).) Present value$

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