Bramble 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 $(800). Annual cost savings were: $7000 for year 1:5000 for year 2; and $3000 for year 3. The amount of the initial investment was PV of an Annuity of 1 at 12% Year Present Value of lat 12% 0.893 0.797 0.712 1 0.893 2 1.690 3 2.402 O $11210 $12810 $13172 O $11572