The Boyer Bank wants to add a new ATM machine in a busy mall. It knows the new machine will cost $60,000 and another $30,000 is required to install it in the mall. It expects to save $0.27 per transaction and generate 100,000 transactions per year. Also, it expects the new machine to last 8 years. If it needs to earn a 12% return, what is the NPV of this project? (Round your answer to the nearest $1,000)
A. $126,000
B. $44,000
C. $134,000
D. $27,000
E. $117,000
B. $44,000
Business
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