Benaflek Co. purchased some equipment 3 years ago. The company's required rate of return is 12%, and the net present value of the project was $ (1,800). Annual cost savings were: $20,000 for year 1; $16,000 for year 2; and $12,000 for year 3. The amount of the initial investment wasYear Present Value PV of an Annuity of 1 at 12% of 1 at 12%1.893.893 2.797 1.6903.712 2.402A. $40,232. B. $37,356. C. $40,956. D. $36,632.
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