Adams Corporation is considering an investment in in new machinery that is expected to lower future operating costs. Information regarding this new machinery is as follows: Cost $30,000 Salvage value in five years $0 Estimated useful life 5 years Annual depreciation $6,000 Expected annual reduction in operating costs $8,000 Assume for this question that Adams Corporation uses a discount rate of 16 percent to evaluate projects of this type. What is the project's net present value? Present value tables or a financial calculator are required.

Group of answer choices

$(22,000)

$(3,806)

$(23,451)

$(6,283)