Cortland Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net cash flows of $161.200 The equipment will have an initial cost of $520,000 and have a 5-year life. If the salvage value of the equipment is estimated to be $16,000, what is the annual net income? ignore income taxes. Motiple Choice $145,200 $177,200 $262.000 $60,400