Justice Enterprises is evaluating the purchase of a new computer network system. The new system would cost $24,000 and have a useful life of 5 years. At the end of the system's life, it would have a residual value of $1,000. Annual operating cost savings from the new system would be $8,000 per year for each of the five years of its life. Justice Enterprises has a minimum required rate of return of 12% on all new projects. The not present value of the new network system would be closest to (Round any intermediary calculations and your final answer to the nearest dollar) (Click the icon to view the present (Click the icon to view the present * Data Table Present Value of $1 Periods 16% O A $7,003 OB. $7,570 OC. $31,570 OD. $6,436 10% 0.751 0 683 0.621 0.564 12% 0.712 0536 0.567 0507 14% 0675 0592 0519 0.456 0.641 0.552 0476 0410 i Data Table 14% 16 Present Value of Annuity of $1 Periods 10% 2.487 3.170 3.791 4 355 12% 2.402 3.037 3.605 4 111 2322 2914 3433 3 889 2700 3274 3.685 Print Done