Coyne Corporation is evaluating a capital investment opportunity. This project would require an initial investment of $35,000 to purchase equipment. The equipment will have a residual value at the end of its life of $4,000. The useful life of the equipment is 3 years. The new project is expected to generate additional net cash inflows of $21,000 per year for each of the three years. Coyne's required rate of return is 10%. The net present value of this project is closest to: (Click the icon to view the present value of $1 table.) (Click the icon to view the present value of annuily of $1 table. i Data Table O A $8.646. O B. S17,227 Present Value of $1 C. $20,231. Periods 10% 12% 14% 16% OD. $28,946. 3 0.751 0.712 0.675 0.641 0.683 0.636 0.592 0.552 5 0.621 0.567 0.519 0.476 0.564 0.507 0.456 0.410 6 Print Done i Data Table Present Value of Annuity of $1 Periods 10% 3 3 2.487 4 3.170 5 3.791 6 4.355 12% 2.402 3.037 3.606 4.111 14% 2.322 2.914 3.433 3.889 16% 2.246 2.798 3.274 3.685 Click to select your answer. Print Done