Corns Squeezings, Inc. is considering the purchase of new mashing equipment. The CEO of the company, Dollar Signs Dallas, has requested that you provide the net present value for the equipment being considered. The relevant data for the new equipment are as follows: First cost $ 125,000 Annual income $ 10,000 Annual operating costs $ 8,000 (first year and increasing by $750 per year) Property taxes 5% of first cost (payable at the end of each year) Salvage value 8% of first cost CSI has a minimum attractive rate of return (MARR) of 4%, and the equipment has an expected useful life of 6 years