Both projects require an initial 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 14%, compute the net present value of each piece of equipment. Puro equipment: $ Briggs equipment: $ equipment to be selected over the other two? Assume a 14% discount rate. per year