Ambrin Corp. expects to receive $2,000 per year for 10 years and $3,500 per year for the next 10 years. What is the present value of this 20 year cash flow? Use an 11% discount rate.

Note: ALL work must be shown in Excel

A. $19,034 B. $27,870 C. $32,389 D. none of these

Steps taken so far:

First 10 years				Next 10 years
PMT =	$2,000			PMT =	$3,500
Nper =	10			Nper =	10
Rate =	11%			Rate =	11%
PV =	($11,778.46)			PV =	($20,612.31)

Stuck on how to discount $20,612.31 further 10 years to get today's present value: Please show steps on how to solve this in excel.

Last step would be to add the two PV values