A company is considering the purchase of new equipment for $63,000. The projected annual net cash flows are $25,600. The machine has a useful uite of 3 years and no salvage value. Management of the company requires a 10% return on investment. The present value of an annuity of $1 for various periods follows: Period Present value of an annuity of $1 at 10% 1 0.9091 1.7355 2.4869 What is the net present value of this machine assuming all cash flows occur at year-end? Multiple Choice $21,000 $3,600 $665