The management of Penfold Corporation is considering the purchase of a machine that would cost $440,000, would last for 7 years, and would have no salvage value. The machine would reduce labor and other costs by $102,000 per year. The company requires a minimum pretax return of 16% on all investment projects. The net present value of the proposed project is closest to (ignore income taxes,): Click here to view Exhibit 13B-1 and Exhibit 138-2 to determine the appropriate discount factorts) using the tables provided. Multiple Choice $(28,022) $96.949 09196) $274,000