answer the question below:

Welch Corporation is planning an investment with the following characteristics (Ignore income taxes.): Useful life 7 years Yearly net cash inflow $70,000 Salvage value $ 0 Internal rate of return 12% Required rate of return 8% Click here to view Exhibit 135-1 and Exhibit 13B2, to determine the appropriate discount factor(s) using the tables provided. The initial cost of the equipment is closest to: Multiple Choice . $319,480 0 $329,830 0 $420,100