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 fow of $220.000. The equipment will have an initial cost of $947.000 and have a 6 -year life. There is no salvage value for the equipment. If the hurdle rate is 9%, what is the approximate net present value? ignore income taxes. (Future Value of $1. Present Volue of 51 . Future Value. Annulty of 51. Present Value Annuity of \$1.) (Use appropriate factor from the PV tables. Round your final answer to the nearest doliar amount.) Mulisie Choice $39.898 5315667 $947000 5905,298