Multiple Choice
What is the present value of the following cash flow stream at a rate of 6.25\%?\(\newline\)\(\begin{align*}\)
\(\text{Year 1:}\) &\(\quad\) \$1,000 \\
\(\text{Year 2:}\) &\(\quad\) \$1,500 \\
\(\text{Year 3:}\) &\(\quad\) \$2,000
\(\end{align*}\)
\(\text{(Round your answer to the nearest dollar.)}\)
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