Porus, Corp. is considering the purchase of a machine that would cost $150,000 and would last for 5 years. At the end of 5 years, the machine would have a salvage value of $19,000. The machine would reduce costs by $34,000 per year. The company requires a minimum return of 12% on all investment projects.

The net present value of the project is closest to: (factors from Exhibit 12B-1 and Exhibit 12B-2 for an interest rate of 12% are provided below):

Periods	Present Value of $1	Present Value of an Annuity of $1
1	0.893	0.893
2	0.797	1.690
3	0.712	2.402
4	0.636	3.037
5	0.567	3.605