Question - Chad's Chocolates is considering the purchase of a new candy press. The machine under consideration costs $17,550 and would generate $2,650 in annual savings of direct labor costs over its 20-year life. At the end of 20 years, the press could be sold for $500. Chad's required rate of return is 16%. What is the machine's net present value?
(a) $1,813
(b) $(1,813)
(c) $(1,839)
(d) $(1,339)