Matt's Company is considering purchasing new equipment costing $300,000. Matt's management has estimated that the equipment will generate cash inflows as follows: Year 1 Year 2 $150,000 Year 3 Year 4 Year 5 $100,000 $125,000 $125,000 $70,000 Using the P.V. Table below, calculate the pet present value of the investment project using a discount rate of 7%. Present Value of $1 5% 56 6% 7% 8% 9% 10% 0.917 0.909 1 0.952 0.943 0.935 0.926 2 0.907 0.890 0.873 0.857 3 0.864 0.840 0.816 0.794 4 0.823 0.792 0.763 0.735 5 0.784 0.747 0.713 0.681 0.8421 0.826 0.772 0.751 0.708 0.683 0.650 0.621