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NIMEL Richman 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 $(900). Annual cost savings were: $10,000 for year 1; $8,000 for year 2; and $6,000 for year 3. The amount of the initial investment was Present Value PV of an Annuit Year of 1 at 12% of 1 at 12% 1 1893 .893 2 -797 1.690 3 :712 2.402 Select one: O a. $18,678 b. $20,478 c. $20,116. d. $20,000 e. $18,316