A piece of equipment has a cost of $15,000. The equipment will provide cost savings of $4,500 each year for five years, after which time it will have a salvage value of $2,500. If the company's discount rate is 12%, what is the equipment's net present value? (Do not round your intermediate calculations and round final answer to the nearest whole dollar.) $546 $17,500 $2,640 $3,202