Answer:
$18,919.60
Explanation:
to find the present value of the cash flows, discount the cash flows at the discount rates.
Present value can be calculated using a financial calculator:
Cash flow from year 1 to 4 = $3,000
Cash flow from year 5 to 9 is $4000
Cash flow in year 10 is $2000
Discount rate = 12%
Present value = $18,919.60
I hope my answer helps you