Currently we are in year 2019. we started a project by investing $60000 in year 2016. The project started to generate a yearly income of $13000 in years 2017, 2018, 2019, and expected to keep the same $13000 inflow revenues till year 2025. Assume the average inflation to be estimated as 3% from year 2016 till year 2025. With reference to year 2019: What is the present worth in 2016 given that the real discount factor is 10%