Kathy Myers frequently purchases stocks and bonds, but she is uncertain how to determine the rate of return that she is earning. For example, three years ago she paid $28,000 for 400 shares of Malti Companys common stock. She received a $284 cash dividend on the stock at the end of each year for three years. At the end of three years, she sold the stock for $25,000. Kathy would like to earn a return of at least 6% on all of her investments. She is not sure whether the Malti Company stock provided a 6% return and would like some help with the necessary computations. (Ignore income taxes.)

Required:

a.	Determine the net present value.