A company is considering the purchase of new equipment for $57,000. The projected annual net cash flows are $22,400. The machine has a useful life of 3 years and no salvage value. Management of the company requires a 8% return on investment. The present value of an annuity of 1 for various periods follows: Present value of an Periods annuity of $1 at 8% 1 0.9259 2 1.7833 3 2.5771 What is the net present value of this machine assuming all cash flows occur at year-end? Multiple Choice O $57,727 O $4,900 $4,593 O $727 O O $22,400