15. Clare Company is considering the purchase of some labor-saving equipment for its packaging department. The equipment is expected to result in labor cost savings of $50,000 per year for the expected 5 year life of the equipment. The cost of the equipment is $120,000 and the desire rate of return is 6%.

What is the NPV for the investment?

A) $(76,520)

B) $90,620

C) $35,670

D) $20,620