Newport Corp. is considering the purchase of a new plece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $220,000. The moment will have an initial cost of $920,000 and have a 6 your life. There is no salvage value for the equipment. If the hurdle is to what is the approximate net present value? ignore income taes Buture Value of 1. Preset let. 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) $920,000 0 $306,667 $958166 $38,166