$1.90(1.20) / (1 + R) + $1.90(1.20)(1.15) / (1 + R)2 + $1.90(1.20)(1.15)(1.10) / (1 + R)3 + [$1.90(1.20)(1.15)(1.10)(1.05) / (R − 0.05)] / (1 + R)3 = $34.02
$$\frac{1.90(1.20)}{(1 + R)} + \frac{1.90(1.20)(1.15) }{ (1 + R)^2} + \frac{1.90(1.20)(1.15)(1.10)}{(1 + R)^3} +\frac{ \frac{1.90(1.20)(1.15)(1.10)(1.05) }{ (R-0.05) }}{(1 + R)^3 }= $34.02$$
I am not answering right now but is this your intended question?
(I believe it is what you have asked)
$$\frac{1.90(1.20)}{(1 + R)} + \frac{1.90(1.20)(1.15) }{ (1 + R)^2} + \frac{1.90(1.20)(1.15)(1.10)}{(1 + R)^3} +\frac{ \frac{1.90(1.20)(1.15)(1.10)(1.05) }{ (R-0.05) }}{(1 + R)^3 }= $34.02$$
I am not answering right now but is this your intended question?
(I believe it is what you have asked)