Grady Corp. is considering the purchase of a new piece of equipment. The equipment costs $50,100, and will have a salvage value of $5,140 after nine years. Using the new piece of equipment will increase Grady's annual cash flows by $6,170. Grady has a hurdle rate of 14%. (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.) a. What is the present value of the increase in annual cash flows? (Round your answer to 2 decimal places.) Present Value b. What is the present value of the salvage value? (Round your answer to 2 decimal places.) Present Value c. What is the net present value of the equipment purchase? (Negative value should be indicated by a minus sign. Round your intermediate calculation and final answer to 2 decimal places.) Net Present Value d. Based on financial factors, should Grady purchase the equipment? Yes O No