Malema Pty Ltd$,$ a furniture manufacturer, has been offered an opportunity t$3$ accept a project that has the following mixed

stream of cash flows over the next $5$ years:

Year

$1$

$2$

$3$

$4$

$5$

Cash flow

$7000$

$8000$

$9000$

$10000$

$11000$

If the company must earn at least $12\%$ on this project. What is the present value of this project?