Butler Corporation is considering the purchase of new equipment costing $60,000. The projected annual after-tax net income from the equipment is $2,.200, after deducting $20,000 for depreciation. The revenue is to be received at the end of each year. The machine has a useful life of 3 years and no salvage value. Butler requires a 12% return on its investments The present value of an annuity of SI for different periods follows: Periods 0.8929 1.6901 2.4018 3.0373 What is the net present value of the machine? Multiple Choice $48,036 Prey 22 of 30 Next $48,036. $60,000 $(6.680) $6,600 $53,320