Canoe Outfitters Manufacturing is considering purchasing equipment costing $60,000 with a 6- year useful life. The equipment will provide cost savings of $14,600 and will be depreciated straight-line over its useful life with a salvage value of $2000. Canoe requires a 10% rate of return. Present Value of $1 n=6, 1-10: 0.564 Present Value of an Annuity of $1 n=6, 1=10: 4.355 What is the approximate net present value of this investment? 01) $5,496 02) $3,583 03) $4,711 04) $1,772