To find the present value of 1,000, you need to locate the discount rate that is used for a one-year period and an interest rate of 0%. This discount rate can be found in the PVIF table. Once you have located this discount rate, you can multiply it by the cash amount to be received at a future date to calculate the present value of that sum. In this case, the present value of 1,000 would be 971.43.