(Ignore income taxes in this problem.) The management of Mashiah Corporation is considering the purchase of a machine that would cost $575,000, would last for 8 years, and would have no salvage value. The machine would reduce labor and other costs by $119,000 per year. The company requires a minimum pretax return of 12% on all investment projects. Click here to view Exhibit 8B-1 and Exhibit 8B-2 to determine the appropriate discount factor(s) using tables. The present value of the annual cost savings of $119,000 is closest to: $1,032,408 $952,000 $379,268 O $591,192