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Is the answer $43,450? Please show all work. Earle Co. invested in equipment 3 years ago. The company's acceptable rate of return is 12%, and

image text in transcribed Is the answer $43,450? Please show all work.

Earle Co. invested in equipment 3 years ago. The company's acceptable rate of return is 12%, and the actual net present value of the investment was $2,200. Annual net cash flows were: $23,000 for year 1; $19,000 for year 2; and $14,000 for year 3. Use the following Present Value of $1 table: Year (period) 6% 10% 12% 15% 1 0.943 0.909 0.893 0.870 2 0.890 0.826 0.797 0.756 3 0.840 0.751 0.712 0.658 Calculate the amount of the initial investment (original cost)

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