(b) What is the single effective annual interest rate over 4 years?

Consider the cash flow transactions depicted in the accompanying cash flow diagram with the changing interest rates specified. (a) What is the equivalent present worth? (In other words, how much do you have to deposit now so that you can withdraw $100 at the end of year 1, $100 at the end of year 2, $400 at the end of year 3, and $400 at the end of year 4?) The equivalent present worth is $ (Round to the nearest dollar.)