You will be receiving cash flows of: $3,000 today, $3,500 at the end of year 1, $2,000 at the end of year 3, and $5,000 at the end of year 5. What is the net present value of these cash flows at an interest rate of 3.50%?

$13,214.17

$11,521.63

$12,395.39

$11,982.27