An asset requires an initial investment of $1,574. The net CFs in years 1-7 are 955, 870, 943, 802, 827, 668 and $969. The interest rate is 1.1%. The residual (salvage) value of the asset is projected to be 10.9% of its original value. Find the cumulative discounted CF value thru the end of year 3 (this procedure is related to the discounted payback period method). (answer: $ 1,134.33)

i know the answer but i need to know how to solve for the answer please show steps on how to do this problem and not just give the answer thank you