ABCD Inc. is considering whether or not to purchase a new piece of equipment which costs $1,750,000. The equipment (with a CCA rate of 35%) would bring in an additional $355,000 in annual pre-tax cash flows, has a useful life of 5 years, and will have no salvage value. The firms WACC is 15% and the tax rate is 40%. What would be the NPV of buying this equipment? Tip: round all components to the nearest dollar in calculating the NPV.

Answer is -$577,948 - need in-depth solution