Concose Park Department is considering a new capital investment

Concose Park Department is considering a new capital investment. The following information is available on the investment. The cost of the machine will be $340,000. The annual cost savings if the new machine is acquired will be $85,000. The machine will have a 5-year life, at which time the terminal disposal value is expected to be $32,000. Concose Park Department is assuming no tax consequences. If Concose Park Department has a required rate of return of 11%, which of the following is closest to the present value of the project?

$(8,245)$24,836$3,136$(6,864)