You have been offered the opportunity to invest in a project which is expected to provide you with the following cash flows: $4,600 in 1 year, $13,600 in 2 years, and $7,200 in 3 years. If the appropriate interest rates are 7 percent for the first year, 9 percent for the second year, and 11 percent for the third year, what is the present value of these cash flows? (Round answer to 2 decimal places, e.g. 15.25.) $21,010.48 is incorrect.