A company wished to reduce costs on a product it manufactures. The company is considered a capital expenditure of $80,000, which would generate an annual net cash flow of $30,000 beginning in year one. Marketing has determined the product will be sold for three years after the new equipment is installed. The company expects an annual discount rate of 8%.

What is the net present value of this opportunity? (round to the closed integer)

a $9200

b $2688

c $3600

d $10000