The following data pertain to an investment proposal (Ignore income taxes) Amount Description Cost of the investment $94.000 $28,000 Annual Cost Savings Estimated salvage value $12,000 Life of the project Discount rate 10 years 18% 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 Period 9% Present Value of an Annuity of $1 Period 9% 18% 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 (34,7247