Solve the problem the hand, do not use excel.

Calculate the present value of an asset that has cash flows of 3000 one year from now, 4000 three years from now, and 5000 five years from now if the correct annual discount rates are 4% for this year and next year, 5% for years three and four, and 6% for year five. Show your return in dollars and percent if you hold this asset for three years. (Assume the discount rate pattern does not change.)