2. Alcorn Company is considering purchasing equipment that costs $400,000. The equipment has an estimated useful life of 8 years and no salvage value. Alcorn believes that the annual cash inflows from using the equipment will be $80,000. Required: 1) Calculate the net present value of the equipment assuming that Alcorn's cost of capital is 12%. Is the equipment an acceptable investment? 2) Calculate the net present value of the equipment assuming that Alcorn's cost of capital is 10%. Is the equipment an acceptable investment? 3) What general conclusion can you reach from your results to parts 1) and 2)