Assume that Crusher Co. has several minor lawsuits outstanding. To determine the amount of liability to recognize on the statement of financial position, Crusher decides to use expected cash flow techniques. Based on discussions with their lawyers, Crusher has developed the following cash flow estimates, and related probabilities: Year Cash Flow Estimate Probability Assessment 2020 $2,300 30% $4,500 45% $8,200 25% 2021 $3,200 20% $5,400 50% $7,100 30% Required: 1) Based on these estimates, and assuming a risk-free rate of 5%, what is the present value of expected cash flows that Crusher should record on their statement of financial position for 2020