Question 7 0.3125 points Save Answer Interior Products, Inc. is evaluating the purchase of a new machine to use in its manufacturing process. The new machine would cost $36,000 and have a useful life of 5 years. At the end of the machine's life, it would have a residual value of $2200. Annual cost savings from the new machine would be $12.400 per year for each of the 5 years of its life. Interior Products, Inc. has a minimum required rate of return of 18 % on all new projects. The net present value of the new machine would be closest to: Present Value of $1 Periods 14% 0.519 0.456 0.400 Present Value of Annuity of $1 14% 3.433 16% 0.476 0410 0.354 18% 0.437 0.370 6 0.314 16% 3.274 3.685 4.039 Periods 18% 3.127 3.498 6 3 889 3.812 4.288 (Round any intermediary calculations and your final answer to the nearest dollar) $2775 O $961 e $3736 O $38.775