Byron Corporation is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net cash flow of $$95,000.$ The equipment will have an initial cost of $$460,000,$ a $5-$year useful life, and an estimated salvage value of $$80,000.$ If the company$$s cost of capital is $5\%,$ what is the approximate net present value? $($Future Value of $$1,$ Present Value of $$1,$ Future Value Annuity of $$1,$ Present Value Annuity of $$1)$

Note: Use the appropriate factors from the PV tables.

Multiple Choice

$$(48,697)$

$$175,000$

$$13,983$

$$95,000$