D-105 Three estimators have estimated a project with a 10-year life. Estimate 1 Estimate 2 Estimate 3 $10,000 $17,500 $15.000 7,500 8,000 6,000 First cost Net annual cash flows Salvage value 3.500 0 10,000 Use an interest rate of 20% to determine the project's expected present worth. The value is closest to which of the following? (a) $16,066 (b) $16,612 (c) $31,660 (d) S31,607