28) SHOw WORK. Butler Corporation is considering the purchase of new equipment costing $30,000. The projected annual after-tax net income from the equipment is $1,200, after deducting $10,000 for depreciation. The revenue is to be received at the end of each year. The machine has a useful life of 3 years and no salvage value. Butler requires a 12% return on its investments. The present value of an annuity of $1 for different periods follows: Periods 12% 0.8929 2 3 4 1.6901 2.4018 3.0373 What is the net present value of the machine? A) $24,018. B) S(3,100) C) S30,000 D) $26,900. E) S(29,520). et cash lows Present value of an annuity at 12% Present value of et cash flows ears 1-3 Amount invested et present value