concose park department is considering a new capital investment. the cost of the machine is $280,000. the annual cost savings if the new machine is acquired will be $165,000. the machine will have a 3-year life and the terminal disposal value is expected to be $35,000. there are no tax consequences related to this decision. if concose park department has a required rate of return of 14%, which of the following is closest to the present value of the project?