Question: Wainright Co. has identified an investment project with the following cash flows.
Year Cash Flow
1 $697
2 $1013
3 $1228
4 $1331
If the discount rate is 13.7 percent, what is the present value of these cash flows? (Round time value factors to 6 decimal places and final answer to the nearest dollar amount. Omit the "$" sign and commas in your response. For example, $123,456 should be entered as 123456.)