Grady Corp. is considering the purchase of a new piece of equipment. The equipment costs $52,000, and will have a salvage value of $5,020 ater nine years. Using the new plece of equipment will increase Gradys annual cash flows by $6,150 Grady has a hurdle rate of 9%. E t revalue f 1, Presentv ue f$1, Futu evalueAnn it or 1, Present alueA nuity L) 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.] b. What is the present value of the salvage value? (Round your answer to 2 decimal places.) 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.) d. Based on financial factors, should Grady purchase the equipment? Yes No