Tenir Corporation considers replacing its old computers with new ones in the middle of the tax year. Information relating to the old computers on the proposed date of replacement: The new computers would cost $40,000. Tenir's applicable tax rate is 30%. The cost of capital for Tenir is 20%. All taxes are paid at the end of the tax year. What is the present value of the net investment relating to the replacement in the capital budgeting analysis, rounded to the nearest dollar?
a. $21,621
b. $25,000
c. $32,000
d. $40,000