Paul White borrowed some money from his friend and promised to repay him $1,230, $1,380, $1,450, $1,630, and $1,630 over the next five years. If the friend normally discounts investment cash flows at 9.0 percent annually, how much did Paul borrow? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.) Present value $