Grove Corp. is considering the purchase of a new plece of equipment. The cost savings from the equipment would result in an annual Increase in rot Income of $200.500. The equipment will have an initial cost of $1,200,500 and have an 8-year life. The salvage value of the equipment is estimated to be $200.500. The hurdle rate is 10%. Igrore Income taxes. Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of S1) (Use appropriate factor from the PV tables.) a. What is the accounong rate of return? [Round your answer to 2 decimal places) Rase of Autumn b. What is the payback period? (Round your answer to one decimal place.) Payback Period Years c. What is the net present value? (Do not round Intermediate calculations and round your final answer to the nearest dollar amount) Ne: Present Value d. What would the net present value be with a 14% hurdle rate? (Do not round intermediate calculations and round your final answer to the nearest dollar amount) Net Present Value