Question 7 1 pts The initial cost of a pump in a pumping stations is $2500, the annual maintenance cost is $300, the salvage value is $300 after 12 years, pump operating cost is $1.40 per hour when the pump operates for 600 hours per year. At a 10% interest rate, what is the approximate present value of the pump over the first 12 years? 9200 O 8200 O 12,900 11900 O 7500 O 10,200