The following data pertain to an investment proposal (Ignore income taxes) Description Amount Cost of the investment $80,000 Annual Cost Savings $25,000 Estimated salvage value $10,000 Life of the project Discount rate 18% 10 years Use the following selection from the present value tables, to calculate the net present value of the proposed investment. The net present value of the proposed investment is closest to: Present Value of $1 Present Value of an Annuity of $1 Period 996 1896 Period 9% 18% 5 0.650 0.437 5 3.890 3.127 10 0.422 0.191 10 6.418 4.494 20 0.178 0.037 20 9.129 5.353 A. ($30,285) B. $34,260 C. $32,350 D. $30,440