The H & L Bark Company is considering the purchase of a debarking machine that is expected to provide cash flows as follows:

End of Year
	1	2	3	4	5	6	7	8	9	10
Cash Flow	$1,200	$2,000	$2,400	$1,900	$1,600	$1,400	$1,400	$1,400	$1,400	$1,400

Required

If the appropriate annual discount rate is 14 percent, what is the present value of this cash-flow stream

P.S: we need the solution to indicate the solution and formulas used (able to copy and paste as text, not as photos)