Charlies Calculator Company purchases a machine costing $40,000 that will automate the production of its product. Charlie estimates that cash flow generated from selling calculators will be $16,000 a year for 5 years. What is the Net Present Value of this investment if the desire rate of return is 14%?

Group of answer choices

$54,929.60

$12,388.80

None of the answers are correct

$14,929.60