Dale Co is considering a project with the following details: Net cash inflows will be $2,000 a year in current price terms but will experience specific inflation at a rate of 4% per year. Dale Co's real cost of capital is 7% and the nominal cost of capital is expected to be 12.35%. All cash flows are expected to continue into perpetuity. What is the present value of the future cash flows of the project (to the nearest $100 )? $28,600$24,900$24,000$16,800