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You have been offered the opportunity to invest in a project that will pay $2,703 per year at the end of years one through three and $10,144 per year at the end of years four and five

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You have been offered the opportunity to invest in a project that will pay $2,703 per year at the end of years one through three and $10,144 per year at the end of years four and five. If the appropriate discount rate is 11.3 percent per year, what is the present value of this cash flow pattern?

Round the answer to two decimal places.