Pharoah Manufacturing is considering the purchase of a new sewing machine that costs $16400. The machine, because of its efficiency, will save about $3600 in cost each year. The machine is expected to have a salvage value of $2700 and a life of 6 years. Pharoah's required rate of return is 16%. Click here to view the factor table. Using the present value tables, what is the machine's net present value? (round to the nearest dollar) $21600 $13500 $-2027 $-3827