Karpets Industries is investing in a new high-speed loom for weaving its rugs and carpets. The new loom will have a useful life of 6 years and cost $40,000. The loom's residual value is $7,000. Assume that Karpets requires a return of 8% and that the loom will create annual cost savings of $16, 450. What is the net present value (NPV) of the new loom? (The present value for this scenario is 0.63 and the present value of annuity for this scenario is 4.623.) A. $80, 458 B. $31, 638 C. $36, 048 D. $40, 458