20 Grady Corp is considering the purchase of a new piece of equipment. The equipment costs $50,400, and will have a salvage value of $5.120 after eight years. Using the new piece of equipment will increase Grady's annual cash flown by $6,100 Grady has a hunde rate of 15% (Future Value of $1, Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.1 (Use appropriate factor i from the PV tables.) a. What is the present value of the increase in annual cash flows? (Round your answer to 2 decimal places.) 37.40 b. What is the present value of the salvage value? (Round your answer to 2 decimal places.). c. What is the net present value of the equipment purchase? (Negative value should be indicated by intermediate calculation and final answer to 2 decimal places.) Net Per ke inus sign: Round your