Echo Silver, Inc., is considering the purchase of a machine to help it automate the production of their newest version of the Echo in partnership with the AARP. This new machine would cost $135,000 and would last for 8 years. At the end of 8 years, the machine would have a salvage value of $36,500. This machine would also reduce labor and other costs by $26,500 per year. Additional working capital of $10,500 would be needed immediately. All of this working capital would be recovered at the end of the life of the machine. The company requires a minimum pretax return of 18% on all investment projects. The net present value of the proposed project is closest to: (Ignore income taxes in this problem.) Click here to view Exhibit 8B-1 and Exhibit 8B-2 to determine the appropriate discount factor(s) using tables. ($49,935) ($24,931) ($34,640) ($9,567)