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Malone Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in

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Malone 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 $20,080. The equipment will have an initial cost of $186.260 and have a 5-year life. The salvage value of the equipment is estimated to be $21,360. Factors to use for n 5.1 -8% (DO NOT USE ANY OTHER FACTORS OR EQUATIONS) Future Value of an Annuity of $1 5.8666 Future Value of $1 1.4693 Present Value of an Annuity of $1 3.9927 Present Value of $1 0.6806 If the hurdle rate is 8%, what is the approximate not present value? Ignore income taxes

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