An investment that costs $35,000 will produce annual cash flows of $11,700 for a period of 4 years. Given a desired rate of return of 10%, what will the investment generate? Use Appendix Table 2. (Do not round your intermediate calculations. Round your answer to the nearest whole dollar.)

Multiple Choice

• A positive net present value of $37,087.

• A negative net present value of $37,087.

• A positive net present value of $2,087.

• A negative net present value of $2,087.