Assume the appropriate discount rate for the following cash flows is 9.49 percent per year. Year Cash Flow 1 $2,000 2 2,400 3 4,600 4 5,200 Required: What is the present value of the cash flows? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Present value $