he following data pertain to an investment proposal (Ignore income taxes.):

Cost of the investment	$	54,000
Annual cost savings	$	16,000
Estimated salvage value	$	7,000
Life of the project		5	years
Discount rate		12	%

Click here to view Exhibit 7B-1 and Exhibit 7B-2, to determine the appropriate discount factor(s) using the tables provided.

The net present value of the proposed investment is closest to: (Round your intermediate calculations and final answer to the nearest whole dollar amount.)