Crane Repairs Ltd. has several minor lawsuits outstanding on December 31, 2022. To determine the amount of liability to recognize on the statement of financial position. Crane decides to use expected cash flow techniques Based on discussions with the company's lawyers. Crane estimates the expected cash outflows associated with the lawsuits as shown below. Cash Flow Estimate Probability Assessment Expected Cash Flow 2023 $4,400 70% 53.000 8.900 30% 2,670 Total $5,750 2024 $5,400 20% $1,080 7,200 60% 4320 8,700 20% 1.740 Total $7.140 Calculate the present value of the lawsuits assuming a risk-free rate of 5% and cash flows occurring at the end of the year (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places 5,275.25) Click here to view Table A2-PRESENT VALUE OF 1-(PRESENT VALUE OF A SINGLE SUM