Cost of the investment $ $46,000$

Annual cost savings $ $14,000$

Estimated salvage value $ $5,000$

Life of the project $5$ years

Discount rate $12\%$

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using the tables provided.

The net present value of the proposed investment is closest to: