A company is considering the purchase of new equipment for $48,000. The projected annual net cash flows are $20,100. The machine has a useful life of 3 years and no salvage value. Management of the company requires a 11% return on investment. The present value of an annuity of $1 for various periods follows Period 1 2 3 Present value of an annuity of $1 at 116 0.9009 1.7125 2.4437 What is the net present value of this machine assuming all cash flows occur at year-end? Multiple Choice $16,000 $46,675 $19,100 $2,100 1 2 3 0.9009 1.7125 2.4437 What is the net present value of this machine assuming all cash flows occur at year-end Multiple Choice O $16,000 O $46,675 $19,100 $3,100 O $1,118