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?

Multiple Choice

• $(664).

• $664.

• $(1,473).

• $37,573.

• $1,473.