12. Let it Snow Company is considering purchasing new equipment to use in its daily operations and has asked you to prepare a capital budgeting analysis using the net present value method. Let it Snow Company as a 21% tax rate and a 10% cost of capital. Current purchase price of the equipment Let it Snow Company is considering purchasing is $75,000. In addition, Let it Snow Company will have to pay additional costs which include $3,000 in freight costs to have the equipment delivered, $500 for insurance while the equipment is in transit, and $1,500 for installation and setup charges. What is the present value of the initial investment? (5 points) (The link below is the TVM calculator spreadsheet)