The Blue Spruce Company is planning to purchase $482,000 of equipment with an estimated 7-year life and no estimated salvage value. The company has projected the following annual cash flows for the investment: Year 1 2 3 Projected Cash Flows $238,000 144,000 110,000 56,300 68,000 43,200 41,500 $701,000 4 5 6 7 Total Click here to view the factor table. Calculate the net present value of the proposed equipment purchase. Blue Spruce uses a 12% discount rate. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to decimal place, eg. 58,971.) $ Net present value