Connor Company is considering the purchase of new equipment for $182,000. The expected life of the equipment is 7 years with no residual value. The equipment is expected to earn revenues of $165,000 per year. Total expenses, including depreciation, are expected to be $130,000 per year. Connor management including depreciation, are expected to be $130,000 per year. Connor management has set a minimum acceptable rate of return of 10%. Assume straight line depression. a. Determine the equal annual net cash flows from operating the equipment. Round to the nearest dollar. $ 61,000 Present Value of an Annuity of $1 at Compound b. Calculate the net present value of the new equipment using the present value of an annuity of $1 table above. Round to the nearest dollar. If required, use the minus sign to indicate a negative net present Annual net cash flow $ 61,000 Present value of equipment cash flows $ Less equipment costs $ Net present value of equipment $ c. Does your analysis support the purchase of the new equipment