Ryan Company is considering whether to invest in a piece of equipment that requires an investment of $240,000 today. The project will provide net before-tax operating cash inflows of $70,000 at the end of each year for six years, and it will have a salvage value of $0 at the end of six years. Ryan Company uses straight-line depreciation for income tax purposes. The income tax rate is 30% and the discount rate is 14%. Calculate the net present value of the piece of equipment. Dont forget income taxes!!!

negative $49,455 positive $32,207 negative $2,791 positive $59,428 negative $123,340 negative $14,457