An investment, which is worth $$56,000\mathrm{.}00$ and has an expected return of $13\mathrm{.}90$ percent, is expected to pay fixed annual cash flows for a given amount of time. The first annual cash flow is expected in $1$ year from today and the last annual cash flow is expected in $5$ years from today. What is the present value of the annual cash flow that is expected in $3$ years from today?

$$12,608\mathrm{.}78($plus or minus $10$ dollars$)$

$$16,272\mathrm{.}69($plus or minus $10$ dollars$)$

$$11,012\mathrm{.}56($plus or minus $10$ dollars$)$

$$14,286\mathrm{.}82($plus or minus $10$ dollars$)$

none of the answers are within $10$ dollars of the correct answer