Current Attempt in Progress Oriole's Auto has several minor lawsuits outstanding To determine the amount of liability to recognize on the December 31, 2022, statement of financial position, Oriole's Auto decides to use expected cash flow techniques. Based on discussions with the company's lawyers. Oriole's Auto estimates the expected cash outflows associated with the lawsuits at the end of each year, as shown below. Cash Flow Estimate Probability Assessment Expected Cash Flow 2023 $3,900 20% $780 6,200 50% 3,100 7,400 30% 2,220 Total $6,100 2024 $5,400 30% $1.620 7,000 50% 3,500 8,600 20% 1,720 Total $6,840 Assume a risk-free rate of 5% and cash flows occurring at the end of the year. Calculate the present value of the lawsuits. (Round present value factor calculations to 5 decimal places, eg 1.25124 and the final answer to 2 decimal places, eg 5,275.25) Click here to view Table A.2-PRESENT VALUE OF 1-(PRESENT VALUE OF A SINGLE SUM) Click here to view Table A4-PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 Present value eTextbook and Media Se forme