The following present value factors are provided for use in this problem.

Periods	Present value of $1 at 8%	Present value of an Annuity of $1 at 8%
1	0.9259	0.9259
2	0.8573	1.7833
3	0.7938	2.5771
4	0.7350	3.3121

Xavier Co. wants to purchase a machine for $36,100 with a four-year life and a $1,100 salvage value. Xavier requires an 8% return on investment. The expected year-end net cash flows are $11,100 in each of the four years. What is the machine's net present value? (Round intermediate answer to the nearest whole dollar.)

Multiple Choice

$37,573.

$(1,473).

$664.

$(664).

$1,473.