Computing Present Value of Several Single Amounts

The following cash inflows are predicted over the next five years: $6,000, $9,000, $12,000, $15,000 and $18,000 at the end of years one, two, three, four, and five, respectively.

Required

Compute the total present value of the five cash flows at the beginning of year one, assuming annual compounding at a 4% interest rate.

• Round final answer to the nearest whole dollar.
• Do not use a negative sign with your answers.

$ ______