PLEASE HELP

Grady Corp. is considering the purchase of a new piece of equipment. The equipment costs $51,300, and will have a salvage value of $5,020 after eight years. Using the new piece of equipment will increase Grady's annual cash flows by $6,170. Grady has a hurdle rate of 9% 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.) a. What is the present value of the increase in annual cash flows? (Round your answer to 2 decimal places.) Present Value b. What is the present value of the salvage value? (Round your answer to 2 decimal places.) Present Value