Grady Corp. is considering the purchase of a new piece of equipment. The equipment costs $51,200, and will have a salvage value of $5,200 after six years. Using the new piece of equipment will increase Gradys annual cash flows by $6,040. Grady has a hurdle rate of 11%. (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.)