Liberty Bicycles is considering the purchase of a new piece of production machinery. The machinery requires an initial investment of $70,000 and is expected to produce net annual cash flows of $21,000 for the next five years, at which point it will have a salvage value of $18,000. In terms of intangible benefits, Liberty estimates that the machinery will save the company $1,800 per year in missed work. Assuming the discount rate is 10%, what is the project's estimated net present value (NPV) (the present value of an annuity at 10% for 5 periods=3.7908; the present value of 1 at 10% for 5 periods = 0.6209)? $84,664 $11,176 $58,223 $27,606 CONTINUI