Grady Corp. is considering the purchase of a new plece of equipment. The equipment costs $51,800, and will have a salvage value of $5,110 after six years. Using the new plece of equipment will increase Grady's annual cash flows by $6,010. 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 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 Prosent Value d. Based on financial factors, should Grady purchase the equipment? Yes ONo