$($O$13-2)$ Investments E and F are mutually exclusive and have physical lives of five and $10$ years, respectively. Each requires an investment $($PV of costs$)$ of $$5,000.$ After$-$tax annual net cash flows are $$2,400$ for $E$ and $$1,800$ for $F.$ If investment $F$ can be sold for $$2500($salvage value$)$ at the end of year $5,$ what is the present value of the salvage value for investment $F$ using an $8$ percent discount rate? Hint:

$PV=\frac{FV}{(1+i{)}^n}$

$$1,628$

$$1,701$

$$1,892$

$$1,928$