Almendarez Corporation is considering the purchase of a machinethat would cost $150,000 and would last for 5 years. At the end of5 years, the machine would have a salvage value of $18,000. Byreducing labor and other operating costs, the machine would provideannual cost savings of $39,000. The company requires a minimumpretax return of 13% on all investment projects. (Ignore incometaxes.)

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determinethe appropriate discount factor(s) using the tables provided.

The net present value of the proposed project is closest to:(Round your intermediate calculations and final answer tothe nearest whole dollar amount.)

• $(45,000)

• $(3,063)

• $11,983

• $(18,410)