What is the present value of the following payment stream, discounted at 11% annually: $1,600 at the end of year 1, $2,600 at the end of year 2, and $3,600 at the end of year 3? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Multiple Choice

• $6,523.37

• $6,434.09

• $6,183.95

• $6,442.94