Blossom Co. purchased some equipment 3 years ago. The company's required rate of return is 12%, and the net present value of the project was $(1200). Annual cost savings were: $20000 for year 1: $10000 for year 2; and $6000 for year 3. The amount of the initial investment was Present Value PV of an Annuity of 1 at 12% of 1 at 12% Year 1 0.893 0.893 2 0.797 1.690 3 0.712 2.402 O $25220 O $31302 $28902 $22820