You are given an investment to analyze. The cash flows from this investment are End of year 1. $11,950 2. $2,220 3. $25,660 4. $3,020 5.

You are given an investment to analyze. The cash flows from this investment are

End of year

1.  $11,950

2.  $2,220

3.  $25,660

4.  $3,020

5.  $7,850

What is the present value of this investment if 15 percent per year is the appropriate discount rate?

Round the answer to two decimal places.