Joanette, Inc., is considering the purchase of a machine that would cost $570,000 and would last for 9 years, at the end of which, the machine would have a salvage value of $57,000. The machine would reduce labor and other costs by $117,000 per year. Additional working capital of $3,000 would be needed immediately, all of which would be recovered at the end of 9 years. The company requires a minimum pretax return of 18% on all investment projects. (Ignore income taxes.) Click here to view Exhibit 12B-1 and Exhibit 12B-2 to determine the appropriate discount factor(s) using the tables provided. Required: Determine the net present value of the project. (Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to the nearest whole dollar amount.) Net present value The following data pertain to an investment proposal (Ignore income taxes.): Cost of the investment Annual cost savings Estimated salvage value Life of the project Discount rate $48,000 $14,000 $ 4,000 5 years 10% Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed investment is closest to: Multiple Choice 0 $5,074 0 $30,000 0 $2,484 0 $7,558