(Ignore income taxes in this problem) A piece of new equipment will cost $70,000. The equipment will provide a cost savings of 15,000 per year for 10 years, after which it will have a 3000.00 salvage value. If the required rate of return is 14%, the equipment's net present value is:

A. 8240 B.(8240) C. 23888 D. 9050

-70,000 + 15000*(1-1/1.14^10)/14% + 3000/1.14^10