Merlin's Magic Show is a theme restaurant. The owner, Merlin Smith, 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 $104,000. The equipment will have an initial cost of $406,000 and have a 5-year life. The salvage value of the equipment is estimated to be $78,000. If the hurdle rate is 11%, what is the approximate net present value? 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. Round your final answer to the nearest dollar amount.) Multiple Choice O O $182,000 182.00 $(21,626)