The Grouper Company is planning to purchase $454,000 of equipment with an estimated 7-year life and no estimated salvage value. The company has projected the following annual cash ows for the investment: Year Projected Cash Flows 1 $228,000 2 145,000 3 119,000 4- 57,600 5 65,600 6 45,800 7 47,700 Total $708,700 Click here to view the factor table. Calculate the net present value of the proposed equipment purchase. Grouper uses a 11% discount rate. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round nal answer to 0 decimal place1 eg. 58,971.] Net present value $ l l