If Lew's Steel Forms purchases $500,000 of new equipment, they can lower annual operating costs by $216,000. The equipment will be depreciated straight-line to a zero book value over its 5-year life. At the end of the three years, the equipment will be sold for an estimated $180,000. The equipment will no change in working capital. What is the NPV (in whole dollar) if the discount rate is 14 percent and the tax rate is 25 percent? {Hint: Use the method discussed in one of the special case.} $51,767 $66,539 -$52,646 -$57,101 $61,310 If Lew's Steel Forms purchases $500,000 of new equipment, they can lower annual operating costs by $216,000. The equipment will be depreciated straight-line to a zero book value over its 5-year life. At the end of the three years, the equipment will be sold for an estimated $180,000. The equipment will no change in working capital. What is the NPV (in whole dollar) if the discount rate is 14 percent and the tax rate is 25 percent? {Hint: Use the method discussed in one of the special case.} $51,767 $66,539 -$52,646 -$57,101 $61,310