You receive $2,800 at the end of each year for 25 years starting at the end of year 1 and ending at the end of year 25 EXCEPT for years 11, 12 and 13. For years 11, 12 and 13, you will make payments (not receive payments) of $1,000 at the end of those years. The Present Value of these series of cash flows is closest to what value below? Use i = 9% annual rate, compounded annually.
$21,340
$22,560
$23,440
$24,510
$25,660
$26,220