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Both projects require an inilall investment of $560,000. In both cases, assume that the equipment has a life of 5 years with no salvage value, Required: Round present value calculations and your final answers to the nearest dollar. 1. Assuming a discount rate of 8%, compute the net present value of each piece of equipment. 2. A third option has surfaced for equipment purchased from an out-of-state supplier. The cost is also 5560,000 , but this equipment will produce even cash flows over its 5-year life. What must the annual cash flow be for this equipment to be selected over the other two? Assume a 8% discount rate. per year