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Assume the appropriate discount rate for the following cash flows is 10.1 percent. Year Cash Flow 1 $ 2,050 2 1,950 3 1,650 4 1,450

Assume the appropriate discount rate for the following cash flows is 10.1 percent.

Year

Cash Flow
1 $ 2,050
2 1,950
3 1,650
4 1,450

What is the present value of the cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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