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A company is considering the purchase of new equipment for $48,000. The projected annual net cash flows are $20,000. The machine has a useful life of 3 years and no salvage value. Management of the company requires a 11% return on investment. The present value of an annuity of 1 for various periods follows: sent value of an s annu 0.9009 1.7125 2.4437 3 What is the net present value of this machine assuming all cash flows occur at year-end? $3,100 $874 $20.000 value of an esent 0.9009 1.7125 2.4437 What is the net present value of this machine assuming all cash flows occur at year-end? $1,325 O $874 $20,000 $48,874