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You just bought equipment from Gray Lake Agriculture. You will receive a cash rebate of $ 2 , 1 0 0 from Gray Lake Agriculture

You just bought equipment from Gray Lake Agriculture. You will receive a cash rebate of $2,100 from Gray Lake Agriculture in 4 years, pay $28,000 to Gray Lake Agriculture in 8 years, receive a cash rebate of $1,600 from Gray Lake Agriculture in 11 years, and pay $2,300 to Gray Lake Agriculture in 18 years. The discount rate is 6.21 percent per year. What is the present value of the cash flows associated with this transaction? Note: the correct answer is less than zero.
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