eAssignmentMain.do?inprogress=true Calculator Davis Company is considering the purchase of a new piece of equipment that will cost $1,600,000 and have a life of five years with no expected value. The expected cash flows associated with the project are as follows: salvage Cash Revenues $1,500,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000 Cash Expenses & Year Depreciation $900,000 $900,000 900,000 $900,000 2 4 What is the average annual income for this project? a. $700,000 b.3900,000 ?.s600,000 e. $1,500,000