Present valueFor the case shown in the followingtable, calculate the present value of the cashflow, discounting at the rate given and assuming that the cash flow is received at the end of the period noted.(Click on the icon located on thetop-right corner of the data table below in order to copy its contents into aspreadsheet.)

Single cash flow Discount rate End of period(years)

$6,000 16% 14

The present value is $______________. (Round to the nearestcent.)