Jennifer presents a business plan to her bank's loan officer that predicts net cash flows for the first three years of $10,000, $15,000, and $8,000 respectively. If these cash flows occur at the end of each year and the discount rate is 4%, what is the total present value of these cash flows? (Round to the nearest whole dollar.)
◦ $29,397
◦ $30,596
◦ $35,683
◦ $37,993
◦ $31,114