Oakcrest Industries has the opportunity to invest $90,000 in a new packing machine that should provide annual cash operating inflows of $29,000 for six years. At the end of that period it can be sold...

Oakcrest Industries has the opportunity to invest $90,000 in a new packing machine that should provide annual cash operating inflows of $29,000 for six years. At the end of that period it can be sold for $10,000. Oakcrest’s required rate of return is 14%. What is the machine’s net present value?

a. $27,328

b. $22,772

c. $61,671

d. $18,221