Price Mart is considering outsourcing its billing operations. A consultant estimates that outsourcing should result in after-tax cash savings of $9,200 the first year, $15,200 for the next two years, and $18,200 for the next two years. Interest is at 11%. Assume cash flows occur at the end of the year. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the total present value of the cash flows.