You are considering a property that is leased for 4 years. As the lessor you would recieve the following cash flows (at the end of each year): $17,800 in Year 1, $19,000 in Year 2, $12,500 in Year 3, and $10,000 in Year 4. At the end of the period you will receive a lump sum payment of $100,000 and the property reverts to the lessee. At an interest rate of 3% what is the present value of the investment?