Assume cash flows at the end of years 1, 2, 3, 4 and 5 are $100, $300, $400, $500 and $10,respectively.

The relevant interest rates (or discount rates) for different periods are

:Year 1:10% Year 2: 5% Year 3: 10% Year 4: 12% Year 5: 11%

What is the present value of these cash flows?Show your work.