7. A new grader has a new purchase price of $325,000, an estimated life of eight years, and an estimated salvage value of $80,000. Annual maintenance is expected to cost $10,000 per year for the life of the equipment. The annual interest rate is 4.0%. (3 points) a. What is the present value cost of the salvage value? b. What is the present value cost of the annual maintenance? c. What is the present value cost of the purchase price? d. What is the present value cost of owning and operating the grader for the next eight years