-75.72 E Question 35 of 35 View Policies Current Attempt in Progress Sheridan 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 $(1200). Annual cost savings were: $10000 for year 1; 8000 for year 2; and $6000 for year 3. The amount of the initial investment was Present Value of lat PV of an Annuity of lat 12% Year 12% 1 2 3 0.893 0.797 0.712 0,893 1.690 2.402 $20416 520778 $18378 $18016