Big League Products is considering replacing old production equipment with new high efficiency equipment. The new equipment will have a five-year life and Big League's cost of capital is 12%. Relevant cash flows and present value factors for 5 years \& 12% are as follows: Investment in high efficiency equipment =$300,000. Monthly net cash savings from new high efficiency equipment =$5,625. Salvage value of new computer technology =10% of the investment cost. Present value of $1=0.5674 Present value of an annuity of $1=3.6048 The total present value of the cash flows from the investment is: Multiple Choice $17,022 $37,299 5260,346