Question 5 2.5 pts XYZ Company is considering the purchase of a new piece of equipment and has gathered the following information about the purchase: Initial investment ? Annual cost savings $38,000 Salvage value in 8 years 20% of initial investment Repair in 5 years $16,000 Working capital needed now $31,000 Cost of capital 14% Life of project 8 years The working capital needed now will be released for investment elsewhere at the end of the eight years. The net present value of the new equipment is -$26,656. Calculate the salvage value for this piece of equipment. You will need to use the present value table factors posted in carmen to answer this question. To access these factors, click modules and then scroll to week 13. Click on the link Labeled present value table factors. No credit will be given for this question using a means other than these posted table factors to answer this