You have lent your friend $8000. Your friend offers you the following instead of paying the $8000 now. End of year Cash flow 11 3100 2 2500 3 450 4 650 What is the present value of your friend's payments (Using an opportunity cost of capital of 7 percent) Would you accept your friend's offer? Write 1 in the blank if yes Write 2 in the blank if No