Flexsteel Industries manufactures furniture for the retail, contract, and recreational vehicle furniture markets. Flexsteel is contemplating the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $145,000. The equipment will have an initial cost of $520,000 and have a 5-year life. The salvage value of the equipment is estimated to be $83,000. If the hurdle rate is 8%, what is the approximate net present value? Ignore income taxes. ( Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to the nearest dollar amount.) Multiple Choice O $115,431 O $145,000