Sheffield Industries is considering the purchase of new equipment costing $1,216,000 to replace existing equipment that will be sold for $183,800. The new equipment is expected to have a $220,000 salvage value at the end of its 5-year life. During the period of its use, the equipment will allow the company to produce and sell an additional 32, 300 units annually at a sales price of $30 per unit. Those units will have a variable cost of $14 per unit. The company will also incur an additional $91,800 in annual fixed costs. Click here to view the factor table. Calculate the present value of each cash flow assuming an 5% discount rate. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to decimal place, 23. 58,971. Enter negative amounts using a negative sign preceding the number es.-58,971 or parentheseses (58,9711) Cash Flow Purchase of new equipment Salvage of old equipment Sales revenue Variable costs Present Value $ Additional fixed costs Salvage of new equipment