Consider the following cash flow statement. The required fields are calculated. Calculate the present value of the cash flow if the interest rate is 13%.

0 1 2 3 4 5 30 30 30 30 4000 4000 4000 4000 120000 120000 120000 120000 30 4000 120000 Revenues: Unit Price Demand (units) Sales revenue Expenses: Unit variable cost Variable cost Fixed cost Depreciation Taxable Income Income taxes (40%) Net Income Depreciation Investment activities Investment Working capital Salvage Gains tax Net cash flow 20 50000 40000 18000 12000 4800 7200 18000 20 50000 40000 31000 -1000 -400 -600 31000 20 50000 40000 22000 8000 3200 4800 22000 20 50000 40000 16000 14000 5600 8400 16000 20 50000 40000 6000 24000 9600 14400 6000 -170000 50000 50000 30000 800 0 1 2 3 4 5 30 30 30 30 4000 4000 4000 4000 120000 120000 120000 120000 30 4000 120000 Revenues: Unit Price Demand (units) Sales revenue Expenses: Unit variable cost Variable cost Fixed cost Depreciation Taxable Income Income taxes (40%) Net Income Depreciation Investment activities Investment Working capital Salvage Gains tax Net cash flow 20 50000 40000 18000 12000 4800 7200 18000 20 50000 40000 31000 -1000 -400 -600 31000 20 50000 40000 22000 8000 3200 4800 22000 20 50000 40000 16000 14000 5600 8400 16000 20 50000 40000 6000 24000 9600 14400 6000 -170000 50000 50000 30000 800