The management of Penfold Corporation is considering the purchase of a machine that would cost $390,000, would last for 7 years, and would have no salvage value.

The machine would reduce labor and other costs by $74,000 per year. The company requires a minimum pretax return of 12% on all investment projects. 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 project is closest to (Ignore income taxes.): Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.

O A) $(52,264)

O B) $(2,264)

O C) $(74,864)

O D) $(29,664)