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You are considering a project with cash flows of $2,616, $5,957, and $9,888 at the end of each year for the next three years, respectively.

You are considering a project with cash flows of $2,616, $5,957, and $9,888 at the end of each year for the next three years, respectively. What is the present value of these cash flows, given a discount rate of 8 percent?

Do not round intermediate calculations. Round your answer to the nearest cent.

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