ABC Company has gathered the following information related to an investment in new equipment: annual net cash inflows ....................... $ 46,000 initial investment ............................ ??? life of new equipment ......................... 10 years working capital needed now .................... $ 37,000 cost of capital ............................... 10% income tax rate ............................... 30% Assume the working capital needed now will be released for investment elsewhere at the end of the project. The after-tax net present value of the project was calculated as $24,740. Calculate the amount of the initial investment. To answer this question use the present value table factors given below. No credit will be awarded for this question using a means other than the table factors given below to answer this question. Factors from the present value of a lump sum table for: i = 10% n = 6 n = 7 n = 8 n = 9 n = 10 0.565 0.513 0.467 0.424 0.385 Factors from the present value of an annuity table for: i = 10% n = 6 n = 7 n = 8 n = 9 n = 10 4.355 4.868 5.335 5.759 6.500