You are considering a project with projected annual cash flows of O in year 1 and $32,200, $41.800, and $22,900 for the next three years (years 2, 3, and 4), respectively. What is the present value of these cash flows at a discount rate of 14 percent? $112,399.12 $75,866,20 $77,103.18 $81,292.25 $66,549.30