Consider the cash flow transactions depicted in a cash flow diagram with the changing interest rates specified.

year 0 thru 4 deposits - $400 in year 1 and 2 deposit of $600 year 3 and 4

Intrest year 0 to 1 8% intrest from year 1 to 3 11% intrest of 8% year 3 to 4

(a) What is the equivalent present worth? (In other words, how much do you have to deposit now so that you can withdraw $400 at the end of year 1, $400 at the end of year 2, $600 at the end of year 3, and $600 at the end of year 4?)

The equivalent present worth is $