The Following Information Pertains to an Investment Ignoring Income Taxes, the Present Value of the Salvage Value

The following information pertains to an investment: $$\begin{array} { l r } \text { Investment } & \$ 240,000 \\\text { Annual revenues } & \$ 140,000 \\\text { Annual variable costs } & \$ 30,000 \\\text { Annual fixed out-of-pocket costs } & \$ 22,000 \\\text { Salvage value } & \$ 54,000 \\\text { Discount rate } & 16 \% \\\text { Expected life of project } & 3 \text { years }\end{array}$$ Ignoring income taxes, the present value of the salvage value (rounded) is

A) $31,346.
B) $34,614.
C) $35,500.
D) $46,440.