Interior Products, Inc. is evaluating the purchase of a new machine to use in its manufacturing process. The new machine would cost $40,000 and have a useful life of 7 years. At the end of the machine's life, it would have a residual value of $2,600. Annual cost savings from the new machine would be $12,300 per year for each of the 7 years of its life. Interior Products, Inc. has a minimum required rate of return of 14% on all new projects. The net present value of the new machine would be closest to: Round any intermediary calculations and your final answer to the nearest dollar) EEB (Click the icon to view the present value of $1 table.) EEB (Click the icon to view the present value of annuity of $1 table.) Data Table O A. $52,742. Present Value of $1 Periods B. $13,782. OC. $1,040 O D. $12,742. 14% 0.519 0.456 0.400 0.476 0.410 0.354 18% 0.437 0.370 0.314 Data Table Present Value of Annuity of $1 16% 3.274 3.685 4.039 18% 3.127 3.498 3.812 Periods 14% 3.433 3.889 4.288 Print Done Click to select your