15 Million Reasons Co. purchased some equipment 3 years ago. The company's required rate of return is 12%, and the net present value of the project was $(450). Annual cost savings were: $5,000 for year 1: $4,000 for year 2; and $3,000 for year 3. The amount of the initial investment was (2 Points) Year 1 2 3 Present Value of 1 at 12% .893 .797 .712 PV of an Annuity of 1 at 12% .893 1.690 2.402 5+0.239 $9.158 $10058