Sunland Co. purchased some equipment 3 years ago. The company's required rate of return is 12%, and the net present value of the project was $(700). Annual cost savings were: $10000 for year 1; 8000 for year 2; and $6000 for year 3. The amount of the initial investment was

Question 14 Sunland Co. purchased some equipment 3 years ago. The company's required rate of return is 12%, and the net present value of the project was $(700). Annual cost savings were: $10000 for year 1; 8000 for year 2; and $6000 for year 3. The amount of the initial investment was Year Present Value of 1 at 12% 0.893 0.797 0.712 PV of an Annuity of 1 at 12% 0.893 1.690 2.402 3 $20278. OOO O $19916. $18878. $18516. Click if you would like to Show Work for this question: Open Show Work