The following data pertain to an investment proposal (Ignore income taxes.): Cost of the investment $ 62,000 Annual cost savings $ 18,000 Estimated salvage value $ 6,000 Life of the project 5 years Discount rate 12% Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed investment is closest to: (