Nat Present Value and competing Projects For discount factors Exhibit 120.1 and shot 1202 Spire Hospital is investigating the possibility of investing in new days woment. The local maractures of the equipment are being considered as res of the gent. After tar ca infant for me two competing projects are as follows Year Pure Equipment Briggs Equipment 1 $120.000 $220,000 200,000 2 120,000 3 240,000 320,000 4 160,000 400.000 5 120,000 440,000 Both projects require an initial investment of $560,000. In both cases, assume that the equipment has a le of years with no salvage Required: Round present value calculations and your final answers to the nearest dollar 1. Assuming a discount rate of 99, compute the net present value of each piece of equipment, Puro equipment Briggs equipmenti 2. A third option has surfaced for equipment purchased from an out-of-state supplier. The cost is also $560,000, but the equipment wil produce even cash flows over its 5-year for what must the annual as now be for this equipment to be selected over the other two? Assume a 9 discount rate per year