Current Attempt in Progress If the single amount of $1000 is to be received in 3 years and discounted at 9% annually, its present value is Click here to view the factor table. O $772 O $1073 O $853 O $1083. Save for Later Attempts:0 of 1 used Submit Answer Progress Sheffield Corp. is considering the purchase of a piece of equipment that costs $20,000. Projected net annual cash flows over the project's life are: Year 1 Net Annual Cash Flow $3300 7700 2 3 14200 4 9500 The cash payback period is 2.64 years 2.36 years 2.34 years O 2.32 years