Monty Inc. recently invested in a project with a 3-year life span. The net present value was $8000 and annual cash inflows were $24000 for year 1; $26000 for year 2; and $28000 for year 3. The initial investment for the project, assuming a 15% required rate of return, was Present Value PV of an Annuity Year of 1 at 15% of 1 at 15% 1 0.870 0.870 2 0.756 1.626 3 0.658 2.283 $50960. O $43324. $59860. $49108