TB MC Qu. 24-112 A company is considering... A company is considering the purchase of new equipment for $60,000. The projected annual net cash flows are $24,500. The machine has a useful life of 3 years and no salvage value. Management of the company requires a 10% return on investment. The present value of an annuity of $1 for various periods follows: Period Present value of an annuity of $1 at 10% 0.9091 1.7355 2.4869 What is the net present value of this machine assuming all cash flows occur at year-end? Multiple Choice $20,000 $3,500 o $929