Lukow Products is investigating the purchase of a piece of automated equipment that will sove $150,000 each year in direct fabor and inventory carrying costs. This equipment cost $940,000 and is expected to have a 7 -year useful life with no salvage value. The company's required rate of return is 14% on all equipment purchases. Management anticipates that this equipment will provide intangible benefits such as greater flexibility and higher-quality output that will result in additional future cash inflows. Click here to view Exhibit 148-1 and Exhibit 148-2, to determine the appropriate discount factor(s) using table. Required: 1. What is the net present value of the plece of equipment before considering its intangible benefits? (Enter negative amount with a minus sign. Round your final answer to the nearest whole dollar amount.) 2. What minimum dollar value per year must be provided by the equipment's intang ble benefits to justify the $940,000 investment? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) ENHKRIT 14Fh- Prescet Valae of \$1 EXHIBIT 1482 Prescnt Value of an Annuity of $1 in Arrears; f1[1f1+p)n1]