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Banderas Corporation is considering the purchase of a machine that would cost $330,000 and would last for 9 years. At the end of 9 years, the machine would have a salvage value of $79,000. By reducing labor and other operating costs, the machine would provide annual cost savings of $59,000. The company requires a minimum pretax return of 12% on all investment projects. The net present value of the proposed project is closest to:

a)            $12,871

b)            $63,352

c)            -$15,648

d)            $35,692

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