Karpets Industries is investing in a new highspeed loom for weaving its rugs and carpets.

high speed loom for weaving its rugs and carpets. The new loom Karpets Industries is investing in a new will have a useful life of 6 years and cost $70,000. The loom's residual value is $5,000. Assume that Karpets requires a return of 10% and that the loom will create annual cost savings of $17,450. What is the net present value (NPV) of the new loom? (Round any intermediary calculations and your final answer to the nearest dollar.) (Click the icon to view the present value of $1 table.) (Click the icon to view the present value of annuity of $1 table.) O A. $8,815 B. $78,815 O C. $5,995 O D. $3,175 Data Table Present Value of Annuity of $1 Periods 8% 10% 12% 14% 5 3.993 3.791 3.605 3,433 6 4.623 4.355 4.111 3.889 7 5.206 4.868 4.564 4.288 4.639 8 5.747 5.335 4.968 9 6.247 5.759 5.328 4.946 10 6.710 6.145 5.650 5.216 i Data Table Present Value of $1 Periods 8% 10% 12% 14% 0.681 0.621 0.567 0.519 5 0.630 0.564 0.507 0.456 7 0.583 0.513 0.452 0.400 0.404 8 0.540 0.467 0.351 0.500 0.424 0.361 0.308 10 0.463 0.386 0.322 0.270