Saved Help Save & Exit Submit The management of Penfold Corporation is considering the purchase of a machine that would cost $300.000, would last for 6 years, and would have no salvage value. The machine would reduce labor and other costs by $60.000 per year. The company requires a minimum pretax return of 12% on all investment projects. Click here to view Exhibit 138-1 and Exhibit 138-2 to determine the appropriate discount factors) using the tables provided. The net present value of the proposed project is closest to (Ignore income taxes): (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Multiple Choice $(78,690) $(53,340) 20