Major Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $110,000. The equipment will have an initial cost of $555,000 and have an 8 year life. The equipment has no salvage value. The hurdle rate is 8%. Ignore income taxes. (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 net present value? (Negative amounts should be Indicated by a minus sign. Round your Intermediate and final answer to the nearest dollar amount.) Net Present Value b. What would the net present value be with a 12% hurdle rate? (Negative amounts should be Indicated Intermediate and final answer to the nearest dollar amount.) a minus sign. Round your Net Present Value c. Based on the NPV calculations, what would be the equipment's internal rate of return? (Round your answer to 2 decimal places.) Internal Rate of Return