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A real estate investment has the following expected cash flows:                         Year           Cash Flows                           1              $9,000                           2               13,000                           3               18,000                           4               25,000 The discount rate is 12 percent. What...

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Finance

A real estate investment has the following expected cashflows:

                        Year           CashFlows
                         1             $9,000
                         2              13,000
                         3              18,000
                         4              25,000

The discount rate is 12 percent. What is the investment’s presentvalue? Round your answer to 2 decimal places; for example2345.25.

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