Julie and Bill Golden are considering a $15,000 investment that will yield $5,000 per year for the next five years. The risk free rate is 7%. The risk adjustment factor for each year (an, where n = year) are ao=1.0, a1=0.94, a2=0.88, a3=0.82, a4=0.76, a5=0.70. Using the certainty-equivalent approach, determine the net present value of the investment