Item10 5 points eBookAskPrintReferencesCheck my workCheck My Work button is now enabledItem 10 Assume the appropriate discount rate for the following cash flows is 9.4 percent. Year Cash Flow 1 $1,700 2 1,600 3 1,300 4 1,100 What is the present value of the cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)