Ignore income taxes in this problem.) The Yates Company purchased a piece of equipment which is expected to have a useful life of 7 years with no salvage value at the end of the 7-year period. This equipment is expected to generate a cash inflow of $32,000 each year of its useful life. If this investment has a internal rate of return of 14%, then the initial cost of the equipment is: Select one: 2. $150,000 b.5137216 C$12,800 d. $343,360