Blue Spruce Inc, is considering modernizing its production facility by investing in new equipment and selling the old equipment. The following information has been collected on this investment: Depreciation is $10,200 per year for the old equipment. The straight-line depreciation method would be used for the new equipment over an eight-year period with salvage value of $4,600. (a) Calculate the net present value assuming a 12% rate of return. (Ignore income taxes.) (If the net present value is negative, use either a negative sign preceding the number e.g. 45 or parentheses e.g. (45). For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5.275.) Click here to view the factor table. eTextbook and Media Save for Later Attempts: 0 of 4 used