Clairmont Corporation is considering the purchase of a machine that would cost $210,000 and would last for 8 years. At the end of 8 years, the machine would have a salvage value of $20,000. By reducing labor and other operating costs, the machine would provide annual cost savings of $34,000. The company requires a minimum pretax return of 8% on all investment projects. (Ignore income taxes in this problem.)

Click here to viewExhibit 11B-1andExhibit 11B-2, to determine the appropriate discount factor(s) using tables.

The net present value of the proposed project is closest to:(Round discount factor(s) to 3 decimal places, intermediate and final answers to the nearest dollar amount.)

$(3,802)$12,722$62,000$(19,149)