Hadden Corporation is evaluating a capital investment opportunity. This project would require an initial investment of $33,000 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 $20,000 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: \begin{tabular}{|ccccc|} \hline Periods & 10% & 12% & 14% & 16% \\ 3 & 0.751 & 0.712 & 0.675 & 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 \end{tabular} Present Value of Annuity of $1 Periods 10% 12% 14%16% Present Value of Annuity of $1 \begin{tabular}{cc|c|c|c} 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.(05 & 3.433 & 3.274 \\ 6 & 4.355 & 4.111 & 3.889 & 3.685 \end{tabular}