The following present value factors are provided for use in this problem. Present Value Periods of $1 at 8% Present Value of an 1234 0.9259 0.8573 0.7938 0.7350 Annuity of $1 at 8% 0.9259 1.7833. 2.5771 3.3121 Xavier Co. wants to purchase a machine for $37,000 with a four year life and a $1,000 salvage value. Xavier requires an 8% return on investment. The expected year-end net cash flows are $12,000 in each of the four years. What is the machine's net present value? Multiple Choice $40,480 $3.480 ($3.480) ($2,745) $2,745