Grady Corp. is considering the purchase of a new piece of equipment. The equipment costs $50.900, and will have a salvage value of $5,000 after seven years. Using the new piece of equipment will increase Grady's annunt cash flows by $6.070. Grady has a hurdle rate of 15% Future Value of $1. Present Value of $i. Future Value Annuity of 51. Present Value Annuity of 11 (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 Present Vio c. What is the net present value of the equipment purchase? (Negative value should be indented by a mission. Sound your Intermediate calculation and final answer to 2 decimal places.) d. Based on financial factors, should Grady purchase the equipment? O Yes O No