Nu Things, Inc., is considering an investment in a business venture with the following anticipated cash flow results: EOY Cash Flow
0 -$105,000
1 $26,000
2 $25,000
3 $24,000
4 $23,000
5 $22,000
6 $21,000
7 $20,000
8 $19,000
9 $18,000
10 $17,000
11 $16,000
12 $15,000
13 $14,000
14 $13,000
15 $12,000
16 $11,000
17 $10,000
18 $9,000
19 $8,000
20 $7,000

Assume MARR is 20% per year. Based on an external rate of return analysis.

Required:
Determine the investment's present worth.