Rainbow bought a new home entertainment system today from Andre's Electronics. She will receive a cash rebate of $230 from Andre's Electronics today, pay $720 to Andre's Electronics in 1 year, receive a cash rebate of $1,640 from Andre's Electronics in 2 years, and pay $4,980 to Andre's Electronics in 4 years. If the discount rate is 18.94 percent, then what is the present value of the cash flows associated with this transaction?
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