Michael Company is considering the purchase of a project costing $85,000 which has an estimated life of 3 years and no salvage value. The net after-tax cash flow from the project for each of the three years is expected to be $35,000. The company's minimum desired rate of return for discounted cash flow analysis is 10 percent. The present value of 1 at compound interest of 10 percent at 1,2 and 3 years is .909, .826 and .751 respectively. The present value of an ordinary annuity for 3 years at 10 percent is 2.487 . What is the net present value of the investment? $3,181 $2,113 $2,045 $2,629