You have just purchased an investment account that generates the following cash flows for the next 4 years. You are able to reinvest these cash flows at 10.3%, compounded annually.

End of Year

1. $1,241

2. $3,992

3. $334

4. $1,984

What is the present value of this investment if 10.3% per year is the appropriate discount rate? Round to 2 decimal places.