Hadden 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 $2,000. The useful life of the equipment is 4 years. The new project is expected to generate additional net cash inflows of $18,000 per year for each of the four years. The company's required rate of return is 10%. The net present value of this project is closest to: Present Value of $1 Periods 10% 12% 14% 3 0.751 0.712 0.675 16% 0.641 4 0.683 0.636 0.592 0.552 5 0.621 0.567 0.519 0.476 6 0.564 0.507 0.456 0.410 Present Value of Annuity of $1 Periods 3 10% 12% 14% 16% 2.487 2.402 2.322 2.246 0007 0700 A. $22,060 B. $23,426 C. $7,186 D. $34,521 Present Value of Annuity of $1 Periods 10% 12% 14% 16% 3 2.487 2.402 2.322 2.246 4 3.170 3.037 2.914 2.798 5 3.791 3.605 3.433 3.274 6 4.355 4.111 3.889 3.685