Justice Enterprises is evaluating the purchase of a new computer network system. The new system would cost $20,000 and have a useful life of 5years. At the end of the system's life, it would have a residual value of $1000. Annual operating cost savings from the new system would be $9200 per year for each of the five years of its life. Justice Enterprises has a minimum required rate of return of 10% on all new projects. The net present value of the new network system would be closest to: Present Value of $1 Periods 10% 12% 14% 16% 3 0.751 0.712 0.675 0.641 4 0.683 0.636 0.592 0.552 5 0.621 0.567 0.519 0.476 6 0.564 0.507 0.456 0.410 Present Value of Annuity of $1 Periods 10% 12% 14% 16% 3 2.487 2.402 2.322 2.246 4 3.170 3.037 2.914 2.798 5 3.791 3.605 3.433 3.274 6 4.355 4.111 3.889 3.685 (Round any intermediary calculations and your final answer to the nearest dollar.)