Lake company is evaluating a capital expenditure proposal that has the following predicted cash flows:

Initial investment $$36,088$

Operation

$\backslash$table$[[$Year $1,16,512],[$Year $2,24,000],[$Year $3,8,000]]$

Salvage value

The present value factors of $$1$ for different rates of return are as follows:

$\backslash$table$[[\{$

$\backslash$table$[[$Present Value of $$1$