64. Wilson Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in NET INCOME after tax of $50,000. The equipment will have an initial cost of $800,000 and have an 8 -year life. The salvage value of the equipment is estimated to be $100,000. If the hurdle rate is 12%, what is the approximate net present value? a. ($76,565) b. ($116,955) c. $76,565 d. $116,955 e. None of the above