A piece of equipment has a cost of $$20,000.$ The equipment will provide cost savings of $$3,500$ each year for ten 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 the final answer to the nearest whole dollar.$)$

Question $13$ options:

$$581$

$$546$

$($$$224)$

$$17,500$