11. (1 pt extra credit) A company purchased a machine with an estimated useful life of 15 years. The machine will generate cash inflows of $12,000 each year over the next 15 years. The machine will have no salvage value at the end of the 15 years. If the net present value of this investment is $16,000, then what was the cost of the machine? Use a discount rate of 14%. a. $68,976 b. $73,704 c. $59,435 d. $57,704

11. (1 pt extra credit) A company purchased a machine with an estimated useful life of 15 years. The machine will generate cash inflows of $12,000 each year over the next 15 years. The machine will have no salvage value at the end of the 15 years. If the net present value of this investment is $16,000, then what was the cost of the machine? Use a discount rate of 14%. a. $68,976 b. $73,704 c. $59,435 d. $57,704