Nevada Industries is considering a project that requires the purchase of new equipment. Cash flows from the project are estimated to be $156,000 per year for the life of the equipment. The equipment will have an initial cost of $485,000 and have an five year life. The salvage value of the equipment is estimated to be $160,000. If the discount rate is 10 percent, what is the net present value of the project? $305,053$106,365$555,000$2205,709$288,796)